September job growth lower than expected
September saw the addition 142,000 new jobs in the United States, lower than the average monthly gain of 198,000 jobs so far in 2015 and far below the average monthly gain of 260,000 in 2014, according to the Bureau of Labor Statistics. Economists had been expecting the report to show 203,000 new jobs.
Additionally, employment gains for July and August were 59,000 jobs less than originally reported. This significant slowdown in job growth means many expect the Federal Reserve will not raise interest rates at its next meeting
The unemployment rate has remained unchanged at 5.1 percent for the past two months, the lowest since 2008. This was mainly due to approximately 350,000 people leaving the civilian labor force.
Healthcare and professional and business services continued to see the strongest growth of any job sector, adding 34,000 and 31,000 jobs in September, respectively