ECON: Sept NFP 148k vs 180k Forecast; Bonds Rallying
- Sept NFP +148 vs +180k forecast
- Aug revised to 193 from 169k, July to 89 from 104k
- Unemployment rate 7.2 vs 7.3 forecast
- Participation Rate unchanged
- Private Payrolls 126k vs 180k forecast
- Average Workweek unchanged at 34.5
- Market Reaction: Strong rally in bond market
Total nonfarm payroll employment rose by 148,000 in September the U.S. Bureau of Labor Statistics reported today.
Employment increased in construction, wholesale trade, and transportation and warehousing.
The unemployment rate, at 7.2 percent, changed little in September but has declined by
0.4 percentage point since June. The number of unemployed persons, at 11.3 million, was
also little changed over the month; however, unemployment has decreased by 522,000 since
Among the major worker groups, the unemployment rates for adult men (7.1 percent), adult
women (6.2 percent), teenagers (21.4 percent), whites (6.3 percent), blacks (12.9 percent),
and Hispanics (9.0 percent) showed little or no change in September. The jobless rate for
Asians was 5.3 percent (not seasonally adjusted), little changed from a year earlier.
In September, the number of long-term unemployed (those jobless for 27 weeks or more)
was little changed at 4.1 million. These individuals accounted for 36.9 percent of the
unemployed. The number of long-term unemployed has declined by 725,000 over the past
Both the civilian labor force participation rate, at 63.2 percent, and the employment-
population ratio at 58.6 percent, were unchanged in September. Over the year, the labor
force participation rate has declined by 0.4 percentage point, while the employment-
population ratio has changed little.
The number of persons employed part time for economic reasons (sometimes referred to
as involuntary part-time workers) was unchanged at 7.9 million in September. These
individuals were working part time because their hours had been cut back or because they
were unable to find a full-time job.