Employers added far fewer jobs than expected for the second month in a row
Economists surveyed by Refinitiv were expecting 500,000 new jobs to be added
Shows the delta COVID variant still has a grip on the economy
Supply chain bottlenecks have also worsened and store shelves are emptying
Clearly, [Biden’s] big government, trillion dollar, socialist plans aren’t working. They’re just bankrupting Americans,’ one Republican wrote on Twitter
‘The jobs numbers are pretty good actually…’ Biden’s chief of staff wrote on Twitter
Just 194,000 jobs were added to the payroll in September, falling far short of the 500,000 that were expected, and offering one of the most dismal outlooks from a US jobs report all year. Monthly job growth this year has averaged 561,000. Supply chain bottlenecks and Covid-19 contributed to the unimpressive numbers. Still, Friday’s report from the Labor Department showed that unemployment slipped more than expected, from 5.2 percent in August to 4.8 percent in September. Economists surveyed by Refinitiv had only expected unemployment to slip to 5.1 percent. The government doesn’t count people as unemployed unless they’re actively seeking jobs, so some may have ceased their search. The number of unemployed people fell to 7.7 million. Data from previous months was also revised upwards – 38,000 jobs were added to July’s figures, bringing the number up to a robust 1.053 million, and August’s disappointment was raised from 235,000 to 366,000. As the economy emerges from the havoc of the Delta variant, many employers are still struggling to find workers as those who lost their job due to the pandemic have yet to start looking again. Federally enhanced unemployment benefits officially ended in September, meaning unemployment checks shrank by $300 a week, but so far ending the benefits has not spurred a momentous return to the workforce. Governors in about half of US states ended their enhanced benefits before the Sept. 5 deadline.