Total nonfarm payroll employment rose by 194,000 in September, and the unemployment rate fell by 0.4 percentage point to 4.8 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, in professional and businessservices, in retail trade, and in transportation and warehousing. Employment in public education declined over the month.
Household Survey Data
The unemployment rate fell by 0.4 percentage point to 4.8 percent in September. The number of unemployed persons fell by 710,000 to 7.7 million. Both measures are down considerably from their highs at the end of the February-April 2020 recession. However, they remain above their levels prior to the coronavirus (COVID-19) pandemic (3.5 percent and 5.7 million,respectively, in February 2020). (See table A-1. See the box note at the end of this news releasefor more information about how the household survey and its measures were affected by thecoronavirus pandemic.)
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Source: Calculated Risk