September jobs report shows that job growth has slowed
Photo: coldwaterman, Adobe Stock

September jobs report shows that job growth has slowed

According to the report, 661,000 jobs were created - fewer than the Dow Jones estimate of 800,000.

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Nonfarm payroll rose by a lower than expected 661,000 in September and the unemployment rate was 7.9%, the Labor Department said Friday in the final jobs report before the November election.

Economists surveyed by Dow Jones had been expecting a payrolls gain of 800,000 and the unemployment rate to fall to 8.2% from 8.4% in August. The payrolls miss was due largely to a drop in government hiring as at-home schooling continued and Census jobs fell.

The decline in the unemployment rate came along with a 0.3 percentage point drop in the labor force participation rate to 61.4%, representing a decline of nearly 700,000.

Read the full story at CNBC