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Another "Disappointing" Jobs Day

- October 7, 2016

September's Jobs Report In One Word: "Disappointing"

September's Jobs Report Was Once Again "Disappointing," "Raising Questions About The Health Of An Economy That Was Expected To Perk Up From A Prolonged Slump." "Job growth was disappointing for a second straight month in September as employers added 156,000 jobs, raising questions about the health of an economy that was expected to perk up from a prolonged slump in the second half of the year." (Paul Davidson, "Disappointing 156,000 Jobs Added In September," USA Today, 10/7/16)

  • USA Today Headline: "Disappointing 156,000 Jobs Added In September" (Paul Davidson, "Disappointing 156,000 Jobs Added In September," USA Today, 10/7/16)

Fortune Headline: "Unemployment Rate Rises In Disappointing September Jobs Report" (Stephen Gandel, "Unemployment Rate Rises In Disappointing September Jobs Report," Fortune, 10/7/16)

Jobs Growth "Unexpectedly Slowed For The Third Straight Month"

"U.S. Employment Growth Unexpectedly Slowed For The Third Straight Month In September." "U.S. employment growth unexpectedly slowed for the third straight month in September, which could make the Federal Reserve more cautious about raising interest rates." (Jason Lange, "U.S. Job Growth Slows, Clouds Case For Fed Rate Hike," Reuters, 10/7/16)

  • Reuters Headline: "Job Growth Slows, Clouds Case For Fed Rate Hike" (Jason Lange, "U.S. Job Growth Slows, Clouds Case For Fed Rate Hike," Reuters, 10/7/16)
  • "Job Gains For July And August Were Revised Down By 7,000." (Paul Davidson, "Disappointing 156,000 Jobs Added In September," USA Today, 10/7/16)

"The Unemployment Rate Unexpectedly Ticked Higher." "The US economy added fewer jobs than expected last month, while the unemployment rate unexpectedly ticked higher, which may further complicate the Federal Reserve's decision over whether to raise interest rates later this year." (Adam Samson, "US Economy Adds 156K Jobs In September, Missing Views," Financial Times, 10/7/16)

  • According To The Bureau Of Labor Statistics, The Unemployment Rate And Number Of Unemployed Americans Has Barely Budged Since August 2015. "The unemployment rate ticked up slightly, from 4.9 to 5 percent, and the number of unemployed people was reported at 7.9 million, also reflecting little change. As the Labor Department said Friday, 'Both measures have shown little movement, on net, since August of last year.'" (Bill Chappell, "U.S. Reports 156,000 New Jobs In September, Lower Than Predicted," NPR, 10/7/16)

The U.S. Lost 13,000 Manufacturing Jobs In September. "Manufacturing employment fell by 13,000." (Josh Mitchell and Ben Leubsdorf, "U.S. Added 156,000 Jobs In September; Jobless Rate Rose To 5%," The Wall Street Journal, 10/7/16)

The Jobs Report Showed That Wage Growth Is Still Too Weak

September's Jobs Report Reaffirmed That Wage Growth Is Too Low, And That Wages Haven't "Climbed As Much As Expected." "Average hourly wages rose 6 cents to $25.79 and are up 2.6% the past year, roughly in line with recent increases. Wage growth has picked up this year from the 2% pace that has marked much of the recovery but hasn't climbed as much as expected in light of the near-normal unemployment rate." (Paul Davidson, "Disappointing 156,000 Jobs Added In September," USA Today, 10/7/16)

Wage Growth Has Still Not Gotten Back To Pre-Recession Levels. "Hourly wages for private sector workers rose 2.6 percent in September from the same month a year earlier, in line with economists' expectations. The annual growth rate has shown signs of accelerating over the last year although it remains slower than before the 2007-2009 recession." (Jason Lange, "U.S. Job Growth Slows, Clouds Case For Fed Rate Hike," Reuters, 10/7/16)

September's Jobs Report "Did Not Meet Expectations," Coming In Well Under Economists' Predictions

September's Jobs Report "Did Not Meet Expectations." "The results did not meet expectations: Economic forecasters had predicted between 170,000 and 176,000 new jobs for September." (Bill Chappell, "U.S. Reports 156,000 New Jobs In September, Lower Than Predicted," NPR, 10/7/16)

  • Business Insider Headline: "Jobs Report Misses Expectations, Unemployment Rate Climbs" (Akin Oyedele, "Jobs Report Misses Expectations, Unemployment Rate Climbs," Business Insider, 10/7/16)
  • NPR Headline: "U.S. Reports 156,000 New Jobs Created In September, Lower Than Predicted" (Bill Chappell, "U.S. Reports 156,000 New Jobs In September, Lower Than Predicted," NPR, 10/7/16)

Economists Had Predicted A Much Higher Number Of Jobs Created In September, With Economists Surveyed By Reuters Expecting 20,000 More Jobs Than What Was Delivered. "Nonfarm payrolls increased 156,000 for the month and the unemployment rate ticked up to 5 percent, according to figures the Bureau of Labor Statistics released Friday. Economists surveyed by Reuters had expected 176,000 new jobs and the jobless rate to hold at 4.9 percent." (Jeff Cox, "US Created 156,000 Jobs In Sept Vs. 176,000 Jobs Expected," CNBC, 10/7/16)

  • CNBC Headline: "U.S. Created 156,000 Jobs In Sept Vs. 176,000 Jobs Expected" (Jeff Cox, "US Created 156,000 Jobs In Sept Vs. 176,000 Jobs Expected," CNBC, 10/7/16)

Economists Surveyed By Bloomberg Had Predicted 16,000 More Jobs Than What Was Delivered. "Economists surveyed by Bloomberg had forecast 172,000 payroll gains." (Paul Davidson, "Disappointing 156,000 Jobs Added In September," USA Today, 10/7/16)


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