Wednesday, October 23, 2013

Employment Update: September 2013

Thanks to the government shutdown, this monthly report came yesterday, some 19 days after its regular appearance (first Friday of the month). The results are a gain of 148,000 jobs in September, lower than the number reported for August. These data come from the Bureau of Labor Statistics press release of yesterday (link). The BLS also published revisions for July and for August, netting out to an additional gain of 9,000 jobs. Herewith the graphic:


If we project year-to-date numbers to the entire year 2013, we see that 2013 is likely to turn in a lower gain in total employment than 2012 did. This month, like last, the projection has dropped. Last month in was 2.163 million jobs, this month 2.132 million. That graphic follows:


Despite the theme of the year 2013, which is Sluggish, a positive note is that all but two major sectors show gains. The two posting losses are Finance (down 2,000 jobs) and Leisure and Hospitality, down 13,000. People don’t seem to be in the mood to take a vacation.

It will be interesting to see what impact the October troubles will have had on this all-important indicator of our economic health.

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