S&P 500
7,588.60
+0.51%
Dow Jones
52,758.90
+0.47%
Nasdaq 100
29,885.70
+0.46%
Russell 2000
2,982.51
-0.27%
FTSE 100
10,543.60
+0.61%
Nikkei 225
69,317.20
+0.42%

Jobs

Magically, Unemployment & Payrolls Hold Up

Photo of Jon C. Ogg
By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
Somehow, someway, the official employment data from the Labor Department managed to hold up in September.  The Labor Department reported that September’s unemployment rate was flat from the months before at 9.1% and it reported that the creation of non-farm payrolls was 103,000.  Dow Jones had estimates of 9.1% and 60,000 on the nonfarm payrolls.

The private sector was actually credited for creating 137,000 jobs during the month of September.  Another help is from the revisions in nonfarm payrolls for the two prior months: August was revised to +57,000 from FLAT and +127,000 in July.  Average hourly earnings ticked up by $0.04 per hour sequentially to $23.12.

The good news is that this data could have been far worse and it also makes the awful report for August look less bad than originally projected.  The bad news is that this is till not anywhere close enough to a growth economy and employment remains challenging.

JON C. OGG

Contact [email protected] for any questions or corrections.

Follow 24/7 Wall St. on Google
Photo of Jon C. Ogg
About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

Continue Reading

How the Markets Are Bracing for Unemployment and Payrolls
Jon C. Ogg |

How the Markets Are Bracing for Unemployment and Payrolls

The financial markets will get to see the report on payrolls and the employment situation from the U.S. Department of…

Jon C. Ogg |

US Job Growth Falters — What Hope for a Rate Hike?

You just have to love the stock market and its schizophrenic behavior around the payrolls reports from the U.S. Department…

Jon C. Ogg |

Full 360-Degree Payrolls and Unemployment Report Preview

Friday morning will bring the key Employment Situation Report from the U.S. Department of Labor. Here is a 24/7 Wall…

Jon C. Ogg |

ADP Shows Payrolls Recovery in September

ADP's September private sector payrolls data will be used by economists and traders as a barometer for the Labor Department…

Slow Payrolls Gains Still Good Enough to Ease Many Recession Fears
Jon C. Ogg |

Slow Payrolls Gains Still Good Enough to Ease Many Recession Fears

Nonfarm payrolls rose less than expected in September, but the should at least ease one more day's worries over the…

Jon C. Ogg |

Payrolls Scream Higher With Revisions, Unemployment at 5.9%

The official unemployment rate fell to 5.9%. The Fed hawks could have a better argument for sooner-than-expected rate hikes.

Why the Markets Should Discount the Payrolls Report
Jon C. Ogg |

Why the Markets Should Discount the Payrolls Report

Sometimes it is best to reflect on economic numbers a couple of days after the fact. Friday’s unemployment and payrolls report from…

Jon C. Ogg |

ADP Picks Up Payrolls and Unemployment Expectations

The big number of the week is of course the Labor Department’s official nonfarm payrolls additions and the unemployment report.…

Chris Lange |

Will Labor Department Payrolls and Unemployment Report Meet Expectations?

On Friday morning, the U.S. Department of Labor will release its Employment Situation report for the month of October.

Top Gaining Stocks

Meta
META • Vol: 40,760,422
CarMax
KMX • Vol: 2,288,021
Weyerhaeuser
WY • Vol: 6,523,553
SBA Communications
SBAC • Vol: 1,443,801
NVIDIA
NVDA • Vol: 148,249,982

Top Losing Stocks

Moderna
MRNA • Vol: 9,176,778
Coterra Energy
CTRA • Vol: 73,319,495
CrowdStrike
CRWD • Vol: 9,269,567
Datadog
DDOG • Vol: 5,135,556
EPAM Systems
EPAM • Vol: 1,164,561