Unemployment Hits Record Low While Economy Adds Only 136,000 Jobs in September
Leading Insurance Career Site, InsuranceJobs.com,
Shares Employment Trends from the Monthly Economic Situation Report
Private employers added 136,000 jobs to the US economy in September, according to preliminary numbers released by the Bureau of Labor Statistics’ Economic Situation Report released on Friday.
Unemployment hit a low not seen since December 1969 at 3.5 percent. In September, the number of unemployed persons decreased by 275,000 to 5.8 million.
September’s job gains were below 2019’s monthly average of 161,000 jobs, and further still below the 223,000 recorded in 2018. Last month, gains primarily occurred within healthcare (+39,000 jobs) and business and professional services (+34,000).
On the flip side, retail trade employment (-11,000 jobs) and manufacturing (-2,000) lost jobs last month.