Employment Increased by 1.25 Million in September
The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for September on October 2nd.
- Unadjusted U-3 was Down from 8.5% to 7.7%!
- Adjusted U-3 was Down from 8.4% to 7.9%!
- Unadjusted U-6 was Down from 14.3% to 12.4%!
- Labor Force Participation fell from 61.7% to 61.4%.
- Unadjusted Employment up from 140.718 million to 141.855 million.
According to the Commissioner of the U.S. Bureau of Labor Statistics:
“Nonfarm payroll employment increased by 661,000 in September, and the unemployment rate fell to 7.9 percent. These improvements reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it.
In September, employment continued to increase in several industries, with the largest gains in leisure and hospitality, in retail trade, in health care and social assistance, and in professional and business services. By contrast, employment declined in government, mainly in state and local government education.”
Of course, he is talking about “Seasonally Adjusted Jobs” from the “Current Population Survey (CPS)” rather than looking at the results reported by actual companies in their “Current Employment Statistics survey (CES)”
But looking at the CES report we see…
Originally the BLS reported 140.598 million jobs for August, they added 120,000 jobs since that estimate.
So currently they are saying 140.718 million jobs for August and 141.855 million jobs for September which is actually an increase of 1,257,000 jobs based on their original estimates.
[Read more…] about September Employment Up 1.25 Million not 661,000