September Jobs Report: Payrolls Add 29,000 After a 60,000 Revision
For the week of October 12, the labor market’s defining number is not just September’s 29,000 payroll gain. It is the combination of that small increase with a 60,000 net downward revision to July and August. The latest three-month average is 51,000 jobs a month. Initial claims remained low at 197,000, so the picture is slow hiring without a broad wave of layoffs.
Key takeaways September payrolls increased 29,000; revisions cut July by 31,000 and August by 29,000. The revised three-month average was 51,000 per month. Initial claims were 197,000 in the week ending October 3, while continuing claims rose 17,000 to 1.716 million. August JOLTS showed 7.1 million openings, 5.2 million hires and 3.…
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