US non-farm payrolls fell by 95,000 jobs in September while the unemployment rate stayed at 9.6 per cent, according to the Bureau of Labor Statistics.
The decline was much more than expected by the market.
The consensus from Bloomberg had predicted a fall of just 5,000 jobs, against last month’s 54,000 drop.
The Reuters consensus, meanwhile, had forecast no change in the main number and an unemployment rate of 9.7 per cent. In August, the corresponding figures were -54,000 and 9.6 per cent respectively.
Private payroll numbers, which were in focus again this month due to Census-related layoffs, came in at +65,000 versus a Reuters forecast of +75,000.
From the statement:
Nonfarm payroll employment edged down (-95,000) in September, and the unem- ployment rate was unchanged at 9.6 percent, the U.S. Bureau of Labor Sta- tistics reported today. Government employment declined (-159,000), reflec- ting both a drop in the number of temporary jobs for Census 2010 and job losses in local government. Private-sector payroll employment continued to trend up modestly (+64,000).
Household Survey Data The number of unemployed persons, at 14.8 million, was essentially un- changed in September, and the unemployment rate held at 9.6 percent. (See table A-1.) Among the major worker groups, the unemployment rate for adult men (9.8 percent), adult women (8.0 percent), teenagers (26.0 percent), whites (8.7 percent), blacks (16.1 percent), and Hispanics (12.4 percent) showed little or no change in September. The jobless rate for Asians was 6.4 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)
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