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September jobs report: US economy gains 661,000 payrolls, unemployment rate ticks down to 7.9%

October 2, 2020

Via: Aol

The US economy saw another 661,000 jobs added back in September and a modest improvement in the unemployment rate, as the recovery in the labor market continues as a stagnating rate.

The Labor Department released its September jobs report Friday morning. Here were the main metrics from the release, compared to consensus estimates compiled by Bloomberg.

  • Change in non-farm payrolls: 661,000 vs. +859,000 expected
  • Unemployment rate: 7.9% vs. 8.2% expected
  • Average hourly earnings, month over month: 0.1% vs. 0.2% expected
  • Average hourly earnings, year over year: 4.7% vs. 4.8% expected
  • Labor force participation rate: 61.4% vs. 62.0% expected

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