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USA Employment growth slows
[USBureauOfLaborStatistics] Total nonfarm payroll employment rose by 194,000 in September, Average hourly earnings for all employees on private nonfarm payrolls rose by 19 cents to $30.85 in September, following large increases in the prior 5 months. ------------- The number of unemployed persons fell by 710,000 to 7.7 million. The number of long-term unemployed (those jobless for 27 weeks or more) decreased by 496,000 in September to 2.7 million but is 1.6 million higher than in February 2020. In September, 13.2 percent of employed persons teleworked because of the coronavirus pandemic, little changed from the prior month. The first two items are from the payroll report. The last three are from the household survey. That is why there is a disconnect this month. The post Covid economy is emerging slower than expected and, at least this month, wage gains are essentially all cancelled out by inflation. Posted by: Lord Garth 2021-10-08 |
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