The U.S. economy added 29,000 jobs in September and the unemployment rate rose to 4.2 percent.
\n\nEconomists had expected the economy to add 85,000 jobs and the unemployment to hold steady at 4.1 percent.
\n\nThe U.S. labor market has experienced a significant shift away from dependence on an immigration-driven workforce. Jobs numbers that may seem anemic compared with recent years may actually indicate healthy—even robust—growth under current conditions, according to economists.
\n\nEmployment in prior months was revised down. July is now recorded as a loss of 10,000, down from a gain of 21,000. August’s gain was revised from 162,000 to 133,000.
\n\nThe private sector gain was stronger than the headline increase. Private employers added 46,000. Goods-producing jobs added 18,000. Eight million jobs were added in durable goods manufacturing and 11 in construction. The services side of the economy added 28,000. Government payrolls shrank by 17,000.
\n\nThe labor force expanded in September, adding 485,000. The labor force participation rate rose by 0.2 percent.
\n\nThe small rise in unemployment in September came from people entering the labor force, not from people losing jobs.
\n\nMany economists now estimate the so-called “break-even” rate of job growth—the rate required to keep unemployment from rising—may be…
Original source: https://www.breitbart.com/economy/
