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US: Total nonfarm payroll employment decreased by 33,000 in September
"The unemployment rate declined to 4.2 percent in September, and total nonfarm payroll employment changed little (-33,000)," the U.S. Bureau of Labor Statistics announced on Friday.
Key highlights:
- A sharp employment decline in food services and drinking places and below-trend growth in some other industries likely reflected the impact of Hurricanes Irma and Harvey.
- Our analysis suggests that the net effect of these hurricanes was to reduce the estimate of total nonfarm payroll employment for September. There was no discernible effect on the national unemployment rate.
- The employment-population ratio increased by 0.3 percentage point to 60.4 percent in September and has increased by 0.6 percentage point over the past 12 months.
- The average workweek for all employees on private nonfarm payrolls was unchanged at 34.4 hours in September.
- In September, average hourly earnings for all employees on private nonfarm payrolls rose by 12 cents to $26.55. Over the past 12 months, average hourly earnings have increased by 74 cents, or 2.9 percent.
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
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