Following a period of limited economic data due to a government shutdown, the release of the delayed September employment report has provided clearer insight into the labor market. Federal Reserve Chair Jerome Powell previously compared the data gap to driving through fog, but the latest figures help reduce that uncertainty. n nAccording to the Labor Department, U.S. employers added 119,000 jobs in September—the highest monthly gain since April and a rebound from the sluggish summer months. Between May and August, job growth totaled only 55,000 after downward revisions. The unemployment rate edged up to 4.4% in September, partly due to a 470,000-person expansion in the labor force, indicating more individuals re-entering the job market. n
— news from The Wall Street Journal
— News Original —
The Jobs Report Is a Peek Through Economic Fog
Federal Reserve Chair Jerome Powell recently analogized the lack of economic data during the government shutdown to driving in a fog. The Labor Department’s release Thursday of the belated September jobs report reduced the haze, and despite signs of slowing, the U.S. economy isn’t barreling toward a cliff. n nEmployers added 119,000 jobs in September, the most since April and a welcome increase after the summer slowdown. Only 55,000 jobs were gained between May and August, after the latest report’s downward revisions. The unemployment rate ticked up in September to 4.4%, though in part because the labor force rose by 470,000.