"Labor Department revisions showed that the economy lost 4,000 jobs in August instead of gaining 22,000 as originally reported. Altogether, revisions shaved 33,000 jobs off July and August payrolls. The economy had also shed jobs in June, the first time since the 2020 pandemic that the monthly jobs report has gone negative twice in one year."
""We've got these strong headline numbers, but when you look underneath that you'll see that a lot of that is driven by healthcare," said Cory Stahle, senior economist at the Indeed Hiring Lab. "At the end of the day, the question is: Can you support an economic expansion on the back of one industry? Anybody would have a hard time arguing everybody should become a nurse.""
"The unemployment rate rose to 4.4% in September, highest since October 2021 and up from 4.3% in August, the Labor Department said Thursday. The jobless rate rose partly because 470,000 people entered the labor market - either working or looking for work - in September and not all of them found jobs right away."
U.S. employers added 119,000 jobs in September, more than double economists' forecasts. Labor Department revisions showed a loss of 4,000 jobs in August instead of the previously reported gain of 22,000, and revisions trimmed 33,000 jobs from July and August payrolls. The economy also lost jobs in June, marking the first year with two negative monthly readings since 2020. More than 87% of September job gains were in healthcare and social assistance and leisure and hospitality. The unemployment rate rose to 4.4% as 470,000 people entered the labor market and not all found work. The data arrived after a 43-day federal government shutdown.
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