Last week the jobs report for the month of September was released. The report was delayed more than two weeks because of the government shutdown. The report says employers added 148,000 jobs as the unemployment rate for the country fell to 7.2 percent.
The numbers in the job report are a little disappointing compared to the number in August’s report and the numbers projected in survey conducted by Bloomberg News. In the month of August, 193,000 jobs were added and about 180,000 jobs were projected for last month.
Despite the somewhat disappointing results, the unemployment rate in the country continues to drop at a slight pace and the economy is recovering at a moderate pace as well.
The unemployment rate has dropped almost one percent from a year ago and the last time the employment rate was at this level was back in late 2008, according to Trading Economics.
However the recent drop in the unemployment rate is deceptive, according to David Payne of Kiplinger. He says ‘many unemployed are giving up the search for work and leaving the labor force. If this weren’t the case, the decline in the unemployment rate from 7.6% in June to 7.2% in September would likely have been just half of what it was. The number dropping out brought the labor force participation rate down from 63.5% to 63.2% during the same period.’
The job report for the month of October is expected to be released on November 8th. The numbers for this month aren’t expected to be high because of the government shutdown. The Labor Department will include workers who were furloughed during the shutdown as unemployed. So for the second straight month, the unemployment rate could be deceptive.
Despite this somewhat negative talk, RMPersonnel has been consistent in their abilities to find you a job in El Paso! Give us a call today to see how we can help. Call us at 915.565.7674 or visit our website www.RMPersonnel.com