While U.S. job creation fell short of economists’ expectations this month, the labor market continues to show healthy growth. According to the latest BLS employment situation report, released today, the U.S. created 156,000 jobs in September, which was lower than the 176,000 gain predicted, but well in the margin of healthy job growth.
The unemployment rate ticked up slightly from 4.9 percent to 5 percent in September, but so did the labor force participation rate – from 62.8 percent to 62.9 percent. This increase is an indication that people are gaining confidence in the labor market and returning to look for jobs.
The industries that saw the biggest gains were professional and business services and health care.
While this marks the second consecutive month of modest job gains, it’s important to note that the overall economy has created a healthy 2.44 million new jobs in the last 12 months, and September was the 72nd consecutive month of positive job growth — the longest on record.
And there’s more good news, according to CNN Money: “America also reached a post-recession milestone: Counting September’s gains, the United States has added 15 million jobs since employment hit its low in February 2010.