September jobs report: household survey adds 406,000 jobs

The September jobs numbers split in a way that matters more than the headline 29,000 ever would: while the establishment survey showed payrolls rising by just 29,000, the household survey counted 406,000 more people at work, with the labor force expanding by 485,000. The gap between the two surveys, both published by the Bureau of Labor Statistics in the September Employment Situation on October 2, is one of the widest reads yet on a labor market that looks cool from one angle and warm from another.

Key Takeaways The household survey added 406,000 jobs in September to 163.15 million, even as establishment payrolls rose only 29,000. The labor force grew 485,000 to 170.26 million, which is why…