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Jobs growth exceeds expectations in September

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Jobs growth exceeds expectations in September

After a sluggish August, economy generates 248,000 jobs in September.

Total nonfarm payroll employment rose by 248,000 in September, and the unemployment rate decreased to 5.9%, the U.S. Bureau of Labor Statistics reported today.

Consensus estimates had expected an increase of 215,000 new jobs.

The historically low employment participation rate remained flat, ending at 62.7% as compared to 62.8% in August.

September’s results were something of a relief, following two disappointing months of sub-200,000 job creation in July and August.

The number of unemployed persons decreased by 329,000, coming in at 9.3 million.

Over the prior 12 months, the number of unemployed persons has declined 1.9 million, while the unemployment rate has declined by 1.3 percentage points.

The full report can be found here.

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