The USA jobs fell short of expectations in September

While non-farm employment in the USA increased by 194 thousand in September, below market expectations, the unemployment rate fell to 4.8 percent.

The U.S. Department of Labor has released its September employment report.

Accordingly, employment in non-agricultural sectors in the country increased by 194 thousand people in September. Non-farm employment data, which was well below market expectations, was expected to increase by 500 thousand people in the said period.

The sectors with the highest employment growth in this period were entertainment and accommodation, professional and business services, retail trade, and transportation and warehousing. In the public education sector, employment decreased this month.

July and August data on non-farm employment figures were revised. Accordingly, while the increase in non-agricultural employment was increased from 1 million 53 thousand to 1 million 91 thousand in July, the increase in August data was increased from 235 thousand to 366 thousand.

Unemployment rate better than expected

The unemployment rate in the USA decreased by 0.4 percentage points to 4.8 percent in September. The unemployment rate, which fell more than expected in this period and fell to the lowest level since March 2020, was expected to be 5.1 percent. The unemployment rate was 5.2 percent in August.

The number of unemployed people in the country decreased by 710 thousand in September to 7.7 million. The labor force participation rate showed a limited change in September, falling from 61.7% to 61.6%.

While the average weekly working hours was 34.8 in September, the average hourly earnings, which the US Federal Reserve (Fed) watched carefully, increased to 30.85 dollars in September.

The unemployment rate in the USA increased from 4.4 percent to 14.7% in April 2020, reaching an all-time high due to the impact of the Kovid-19 outbreak.

Analysts noted that employment growth in the country has slowed sharply, but hiring may increase in the coming months as Covid-19 cases decrease and people continue to look for work.