Article source: ConstructConnect
September’s Employment Situation report from the Bureau of Labor Statistics (BLS) says that the total number of jobs in the U.S. economy rose by +263,000 last month. The gain in employment of a quarter of a million jobs was the weakest showing among all the months of this year so far, but it was still a pretty decent number. It’s not the sort of figure one would expect if the economy were becoming mired in a recession. That may still happen, but it isn’t necessarily here yet.
Furthermore, the headline unemployment rate (i.e., the seasonally adjusted or SA rate) dropped back to about as low as it ever goes in the latest month, receding to 3.5% in September from 3.7% in August. In September of last year, the SA U rate was 4.7%.
