Unemployment Drops to 7.2%

148K new jobs added in September, though hiring slowed

By Evann Gastaldo,  Newser Staff

Posted Oct 22, 2013 7:39 AM CDT

(Newser) – The September jobs report is out today, delayed thanks to the government shutdown, and it reveals that the unemployment rate ticked down to 7.2% last month, while 148,000 jobs were added. Economists had expected the rate to hold steady at 7.3%, the Wall Street Journal notes, but they also expected more new jobs: 180,000, to be exact. The unemployment rate is a 5-year low, and Michael J. Casey at the Journal says it "seems genuine," rather than a result of people dropping out of the labor force.

August's number was revised upward, from 169,000 new jobs to 193,000. But July's was revised downward, from 104,000 new jobs to 89,000—the fewest in more than a year. If you're looking for any effects the shutdown may have had on the economy, you'll likely have to wait for the October report, the Journal notes. And that one will also be delayed, by one week; it arrives on Nov. 8. But the AP notes that the number of jobs created in September suggests the market was already weakening in advance of the shutdown.

In this Wednesday, Aug., 14, 2013, file photo, job seeker Kelsey Devoe, of Miramar, Fla., fills out a contact form at a job fair in Miami Lakes, Fla.
In this Wednesday, Aug., 14, 2013, file photo, job seeker Kelsey Devoe, of Miramar, Fla., fills out a contact form at a job fair in Miami Lakes, Fla.   (AP Photo/Alan Diaz, File)
« Prev« Prev | Next »Next » Slideshow
My TakeCLICK BELOW TO VOTE
5%
11%
5%
52%
4%
24%
To report an error on this story, notify our editors.

NEWS FROM OUR PARTNERS
Other Sites We Like:   The Street   |   24/7 Wall St.   |   BuzzFeed   |   Cracked   |   World History Project   |   POPSUGAR Tech   |   Business Insider   |   HuffPost Entertainment