http://thehill.com/policy/finance/255743-economy-adds-only-142k-jobs-in-september By Vicki Needham - 10/02/15 08:39 AM EDT
The U.S. economy added a disappointing 142,000 jobs in September, marking a slow down in the labor market amid turbulent global growth.
The jobless rate remained at 5.1 percent, maintaining the lowest level since April 2008, but only because people stopped looking for work last month, the Labor Department reported on Friday.
The jobs data raise concerns about the resilience of the U.S. economy.
Jobs gains in July and August were 59,000 less than initially reported as China's policy changes pushed down the value of its currency and roiled financial markets in August.
Economists had forecast jobs growth of around 200,000 and were expecting to see a strong rebound heading into the final three months of the year.
Instead, August’s figures were revised down to 136,000 from 173,000 and the percentage of people participation in the job market hit a new 38-year low.
And despite a 5.1 percent jobless rate, there is still no pressure on wages to rise.
Average hourly wages fell by a penny and have only gained 2.2 percent in the past year.
Job gains in the past three months fell to 167,000, which should be enough to lower the unemployment rate but at a slower pace than the 221,000 from June through August.
Manufacturing, which has been hit harder by the stronger dollar and fewer U.S. exports, posted a loss of 9,000 jobs in September. The sector has shed a total of 27,000 in the past two months.
Meanwhile, the energy sector's struggles continued with employment in mining falling by 10,000. Overall, mining employment has fallen by 102,000 since reaching a peak in December 2014.
