Friday, October 07, 2011

The September Jobs Report

The employment report that the Bureau of Labor Statistics (BLS) issues on the first Friday of each new month is among the most closely followed of all government statistical issues.  This morning's report showed payroll jobs were up by 103,000 sending bond markets down some more.  The Dow and European equities rose in response although the S&P 500 did not. 

The unemployment rate--9.08% in September-- has been little changed over the last five months.  Overall the BLS survey of households shows a million more Americans working than in August, 2010, an increase in the workforce of 400 thousand and a 2.2 million population increase.  The BLS survey of firms show an increase of 1.4 million jobs.

Last month's report painted a bleaker picture than revised data show.  Luca di Leo and Jeffrey Sparshott report on "Payrolls data for the previous two months were revised up by a total 99,000 to show 57,000 jobs were added in August and 127,000 jobs in July."

Good news for Wichita: aerospace employment is up yet another month.

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