September's job report shows record low unemployment
BLS reports 134,000 jobs were created last month, but the real news is that the unemployment rate is the lowest it’s ever been in nearly 50 years and wages hiked up by 8 cents.
Summer has come to pass, September has ended, and the latest jobs numbers are here to wake you up. And not just because the unemployment rate has fallen to its lowest level since the '60s. There were big job gains in a mix of industries.
According to the latest monthly BLS jobs report, 134,000 jobs were added in September. That’s slightly below the 168,000 jobs economists predicted, but as the report explains, Hurricane Florence affected a lot of workers on the East Coast during the month of September.
The feds went back and double-checked their math and added another 87,000 more jobs than were originally reported in July and August. Employment numbers for July moved up from 147,000 to 165,000, while jobs increased from 201,000 to 270,000, in August. After these revisions, job gains have averaged 190,000 per month over the last three months.
Average hourly earnings increased by 8 cents for a total of $27.24 in September.
After staying at 3.9% for the past two months, the unemployment dropped down to 3.7%—the lowest it’s ever been in nearly 50 years, according to MarketWatch.
Job gains were made across several sectors last month. See which industries added the most jobs in September:
Business and professional services
Number of jobs created: 54,000
Number of jobs created: 26,000
Transportation and warehousing
Number of jobs created: 24,000
Number of jobs created: 23,000
Number of jobs created: 18,000
Job growth areas: Durable goods
Number of jobs created: 6,000
One industry that saw a slight decline in jobs in September was hospitality and leisure. While the BLS report shows that 17,000 jobs were lost in September, prior to last month, employment had been on a modest upward trend and some of the weakness in this industry in September can be chalked up to the impact of Hurricane Florence. On Monster, however, you can still find hospitality jobs at top companies, such as Flight Centre Travel Group, Diamond Resorts International, and River Rock Casino.
October’s jobs report comes out Friday, Nov. 2, at 8:30 a.m. EST. In the meantime, you can find the top companies hiring now on Monster.
Job search next steps
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