Skip to main content

US unemployment at five per cent after lacklustre jobs growth in September

The data could further spark debate over whether the US is at or nearing full employment and should raise interest rates soon. Photograph: (AFP)

WION Washington, USA Oct 07, 2016, 04.41 PM (IST)

Continuing its longest streak of total job growth on record, the United States added 156,000 jobs in September. 

According to Labour department data released on Friday, after strong job creation in the summer months, the recent numbers were weaker than expected. 

The monthly totals had surpassed more than a quarter million jobs in June and July. Analysts had forecast 176,000 positions to be added in the month of September. 

The unemployment rate also rose slightly by 0.1 per cent to five per cent, with 7.9 million people counted as unemployed. 

The data which is closely monitored by US policymakers is likely to fuel divisions among members of the US Federal Reserve on whether to raise interest rates in the near future. 

Most of the hiring have been noted in the business and professional services sector, that added 67,000 jobs. Healthcare positions also grew by 33,000 while restaurants, caterers and bars added 30,000 new positions.

Chairman of the Council of Economic Advisors, Jason Furman, said in a statement that the US businesses have consistently grown since early 2010. However he felt, more work still remains to be done to sustain faster wage growth.

(WION with inputs from agencies)

Show Comments
  • delete