WASHINGTON, DC—The US economy added 248,000 jobs in September, according to Friday morning's Labor Department report. At the same time, the unemployment rate declined by 0.2 percentage point to 5.9% as the number of unemployed decreased by 329,000 to 9.3 million.
The numbers are a nice comeback from August's disconcerting report of 142,000 jobs created.
Most of the job growth for the month occurred in professional and business services, retail trade, and health care.
Professional and business services added 81,000 jobs in September, compared with an average gain of 56,000 per month over the prior 12 months.
Employment in retail rose by 35,000 in September, with food and beverage stores adding 20,000 jobs. This was largely a reflection of the return of workers who had been off payrolls in August due to the Market Basket strike in New England.
Retail trade employment, in general, has risen by 264,000 over the past 12 months.
Health care added 23,000 jobs in September, which has been standard for the sector's average 20,000 monthly increase.
Construction employment also continued its upward trajectory, adding 16,000 jobs for the month (of which 6,000 were due specifically to residential) and a yearly total of 230,000 jobs.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
