The unemployment rate dropped down to 3.7 percent in September 2018, the lowest rate in 48 years. A total of 134,000 jobs were added in the month of September. The number of unemployed persons throughout the country decreased by 270,000 to 6.0 million. Over the year, the number of unemployed persons dropped by 795,000 and the unemployment rate has decreased by 0.5 percent. Again, the force participation rate clocked in at 62.7%.
Revised jobs for July and August 2018
The Bureau of Labor Statics also reported revised job gains for July and August for this year. July’s job numbers were revised to 165,000 from the originally reported 147,000. For August, the number was revised down from 201,000 to 270,000. This revision equates to a combined addition of 87,000 jobs than previously reported for the last two months.
After these revisions, job gains have averaged 185,000 per month of the last three months.
Average hourly earnings increase
Average hourly earnings rose by $0.08 for an average hourly rate of $27.24. Over the last year, average hourly earnings have increased by $0.73 or 2.8%.
Employment numbers by industry
For the fourth month in a row, employment in the Professional & Business Services industry led the way with 54,000 jobs added in September. Over the last 12 months, 560,000 jobs have been added to Professional & Business Services.
Healthcare employment rose by 26,000 jobs in September for a total of 302,000 jobs added over the past year. Hospitals alone added over 12,000 jobs in the month of September. The Transportation and Warehousing industry generated 24,000 jobs last month, and over the last 12 months have added a total of 174,000 jobs.
The Construction industry continued to added jobs. In September, Construction increased by 23,000 jobs for a total of 315,000 over the past year. Once again, Mining added 6,000 jobs for the month for a total of 53,000 jobs over the year.
The Leisure and Hospitality industry decreased by 17,000 jobs last month. The Beauru of Labor Statistics reports that some of this decline is likely from the aftermath of Hurrican Florence.
The employment in other major industries, including wholesale trade, retail trade, information, financial activities, and government showed little to no change throughout the month of September.
Check out our infographic below for more stats from the September 2018 Jobs Report: