US Labor Market Shows Signs of Weakening as Job Growth Accelerates Slightly, Unemployment Rate Rises.
In a mixed jobs report for September, the US economy added 119,000 new jobs, a modest increase from the revised 4,000 job drop in August. However, the unemployment rate rose to 4.4 percent, up from 4.3 percent last month. Despite this uptick, the labour market remains under pressure as underlying employment trends suggest that working Americans are facing decreasing job opportunities and rising insecurity.
Notably, key sectors like healthcare expanded by 43,000 jobs in September, while food and beverage services added another 37,000 positions. Social assistance employment also grew by 14,000 jobs. Conversely, construction, wholesale trade, retail services, as well as professional and business services experienced little growth or declines.
However, the government sector faced a decline of 3,000 jobs, marking 97,000 job cuts since the beginning of the year, while transportation and warehousing lost 25,000 positions in September. These losses can be attributed to an industry hit hard by tariffs.
Average wages edged up 0.2 percent to $36.67, a tiny but welcome increase for workers. Nonetheless, concerns persist regarding labour shortages, with some economists attributing recent jobless growth to the rising popularity of artificial intelligence and its impact on entry-level positions in white-collar jobs.
Furthermore, economic experts point to trade policy under the Trump administration as a contributing factor to an uncertain business environment that has hindered hiring efforts, particularly for small enterprises. The ongoing trade disputes may influence future Federal Reserve decisions regarding interest rates during their December 9-10 meeting.
In light of this mixed report and a delayed release, some economists speculate that US labour data will become increasingly important in shaping economic policy decisions.
In a mixed jobs report for September, the US economy added 119,000 new jobs, a modest increase from the revised 4,000 job drop in August. However, the unemployment rate rose to 4.4 percent, up from 4.3 percent last month. Despite this uptick, the labour market remains under pressure as underlying employment trends suggest that working Americans are facing decreasing job opportunities and rising insecurity.
Notably, key sectors like healthcare expanded by 43,000 jobs in September, while food and beverage services added another 37,000 positions. Social assistance employment also grew by 14,000 jobs. Conversely, construction, wholesale trade, retail services, as well as professional and business services experienced little growth or declines.
However, the government sector faced a decline of 3,000 jobs, marking 97,000 job cuts since the beginning of the year, while transportation and warehousing lost 25,000 positions in September. These losses can be attributed to an industry hit hard by tariffs.
Average wages edged up 0.2 percent to $36.67, a tiny but welcome increase for workers. Nonetheless, concerns persist regarding labour shortages, with some economists attributing recent jobless growth to the rising popularity of artificial intelligence and its impact on entry-level positions in white-collar jobs.
Furthermore, economic experts point to trade policy under the Trump administration as a contributing factor to an uncertain business environment that has hindered hiring efforts, particularly for small enterprises. The ongoing trade disputes may influence future Federal Reserve decisions regarding interest rates during their December 9-10 meeting.
In light of this mixed report and a delayed release, some economists speculate that US labour data will become increasingly important in shaping economic policy decisions.
the job growth is kinda meh and the unemployment rate is actually going up? what's going on with that?! it feels like we're stuck in a rut here. construction, wholesale trade, retail services... these are all areas that should be growing, but they're just not 
. and let's talk about the government sector - 3,000 jobs lost already this year? that's huge 
. i'm all for a strong job market, but this is getting concerning 
. With entry-level positions in white-collar jobs becoming increasingly scarce, it's reasonable to expect labor shortages to persist, albeit potentially leading to higher wages 
. Furthermore, the ongoing trade disputes under the Trump administration have undoubtedly contributed to an uncertain business environment, which may hinder hiring efforts – especially for small enterprises 
.
Where are the stats on underemployment? How many people are working part-time just to get by? 
AI is definitely a factor, but trade policy? That's just cherry-picking... 
Need more context on the industry hits from tariffs before I start taking this at face value! 
. And now this report says unemployment is rising, which just means more and more people are struggling to make ends meet 
. We need some kind of support system in place for these young people, you know? 