Geee Posted October 8, 2021 Share Posted October 8, 2021 Fox Business U.S. employers hired fewer workers than expected last month as supplemental unemployment benefits expired. Nonfarm payrolls increased by 194,000 workers in September as the unemployment rate fell to 4.8%, the Labor Department said Friday. Economists surveyed by Refinitiv were expecting the addition of 500,000 new jobs and the unemployment rate to slip to 5.1%. The jobs gains in August were revised up to 366,000 from 235,000. "The labor market recovery continues to hit the brakes this month, but is far from completely stopping," said Daniel Zhao, senior economist at Glassdoor. "Despite the soft September report, there's still a case for optimism in the coming months, as we are beginning to look in the rearview mirror, and the peak of the Delta wave’s repercussions is behind us." President Biden addressed the report Friday and defended his record on the economy as "progress." "In total, the job creation in the first eight months of my administration is nearly five million jobs," Biden said. "Jobs up, wages up, unemployment down. That's progress." The September report was the first since the $300 per week in supplemental unemployment benefits expired on September 5. Economists are still assessing the impact of the Child Tax Credit, which pays families up to $3,600 per child per year. Also having an impact going forward will be the mandatory vaccine requirements being enforced by a growing number of companies. :snip: Link to comment Share on other sites More sharing options...
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