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US economy adds 194K jobs in September, missing estimates


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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:

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Biden turns back on reporters, refuses to take questions after remarks on dismal jobs report

President Joe Biden turned his back on reporters and walked away as they shouted questions on Friday following his remarks on a bleak September jobs report

Biden, speaking from the controversial set across the street from the White House, offered his signature "may God protect our troops" closing line before quickly exiting as reporters yelled questions over each other. 

Multiple voices were heard shouting, "Mr. President," while one reporter attempted to ask Biden what he would say to Americans – but the president was off the stage before he could finish his question. Fox News remained live on the empty stage for a few seconds before anchor Sandra Smith chimed in.

"Allowing a beat there to see if the president took any questions there from the White House as he wraps his remarks on the dismal September jobs report that stunned when it was released this morning," Smith told viewers. 

U.S. employers hired far fewer workers than expected last month as supplemental unemployment benefits expired. :snip:

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