US Economy Adds 194K Jobs in September, , Less Than Expected.
As supplemental unemployment benefits expired last month, U.S. employers didn't hire as many workers as predicted.
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Economists were expecting the unemployment rate to fall to 5.1% with 500,000 new jobs.
According to the Labor Department, 194,000 employees were added to nonfarm payrolls.
And the unemployment rate fell to 4.8%.
Despite the soft September report, there's still a case for optimism in the coming months, as we are beginning to look in the rearview mirror, and the peak of the Delta wave’s repercussions is behind us, Daniel Zhao, senior economist at Glassdoor, via Fox Business.
Leisure and hospitality added the most jobs with over 74,000.
Average hourly earnings also rose 0.6%.
Mandatory vaccine requirements, which are now being enforced by many companies, could have an impact on the job market going forward.
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Approximately 56% of the U.S. has been fully vaccinated against COVID-19 so far.