US Employers Added 254K New Jobs in September

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Facts

  • The US Bureau of Labor Statistics (BLS) announced Friday that US employers added 254K new nonfarm jobs in September — 51K more than the average monthly gain of 203K over the prior 12 months.[1]
  • The BLS also reported that the unemployment rate dropped from 4.2% in August to 4.1%.[2]
  • Meanwhile, wage growth was up 4% year over year in September — a 0.4% increase from a month earlier.[3]
  • The total jobs added and the growth of private sector payrolls (with 223K jobs added) each beat expert predictions. However, manufacturing payrolls declined 7K — 2K more than anticipated.[4]
  • This comes after the added jobs total for July was revised by an increase of 55K to 144K, and the August total was increased by 17K to 159K.[3]

Sources: [1]BLS, [2]USA Today, [3]CNBC and [4]FOX News.

Narratives

  • Democratic narrative, as provided by MSNBC. This is further evidence of a positive economy under Pres. Joe Biden and Vice Pres. Kamala Harris. This news comes on the heels of a solid report last week on the growth of the economy as a whole. Considering the economy in the past three-plus years has added almost twice as many jobs as it did between 2017 and 2019 under the Trump administration, Democrats should be celebrating.
  • Republican narrative, as provided by Daily Caller. Of course, Democrats are going to celebrate this report based on the headlines, but average Americans must consider what this report shows beneath the surface. Unemployment is still rising and nearly a majority of new jobs created were in the government. Small businesses are hurting and — if elected president — Harris' policies will be detrimental to the economy.