October 12, 2021

September 2021 Jobs Report

Unemployment Rate: 4.8 percent

Jobs Created: 194,000

Employment and Unemployment

  1. The Department of Labor reported the unemployment rate decreased 0.4 percentage point to 4.8 in September.

  2. Nonfarm jobs increased by 194,000 in September, lower than expectations and below last month’s payroll gain of 366,000 jobs.

  3. In July and August, job gains were higher on net than first reported. The department revised the change in nonfarm jobs for those months up by a combined 169,000 jobs.

  4. The U-6 unemployment rate, a broader measure that includes part-time and discouraged workers, decreased 0.3 percentage point to 8.5% in September.

Labor Force Participation

  1. The labor force participation rate, the share of people employed or looking for work, ticked down by 0.1 percentage point to 61.6%. It is 1.7 percentage points below the level in February 2020.

Wages

  1. In September, average hourly earnings for all employees in private nonfarm jobs increased by $0.19 to $30.85.

Issue Tag: Labor