The Bureau of Labor Statistics (BLS) reported today that employment rose in September, adding 114,000 jobs to the US economy and spurring the unemployment rate to drop to 7.8%. This is the first time in 44 months (almost 4 years) that unemployment has dipped below 8%. In addition to initial data for September, employment numbers for July and August were also adjusted, adding a combined 86,000 jobs.
In September, it was noted that employment grew in healthcare (+44,000), transportation and warehousing (+17,000), and financial services (+13,000). The healthcare industry saw most job gains in ambulatory health care services, accounting for 68% of the 44,0000 jobs added in healthcare. Within financial services, gains were seen in credit intermediation (+6,000) and real estate (+7,000). On the other hand, declines were seen in manufacturing, computer and electronic products, and printing and related activities. Other major sectors remained relatively unchanged in September.
Along with these preliminary numbers for September, the BLS issued final job gains for July, revising from +141,000 to +181,000 (adding 40,000). August numbers were also revised, up another 46,000 jobs from +96,000 to +142,000.
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