Comments on September Unemployment
October 08, 2021
Source: Calculated Risk
The headline jobs number in the September employment report was well below expectations, however employment for the previous two months was revised up significantly. The participation rate declined, and the unemployment rate decreased to 4.8%.
Leisure and hospitality gained 74 thousand jobs in September. In March and April of 2020, leisure and hospitality lost 8.2 million jobs, and are now down 1.6 million jobs since February 2020. So leisure and hospitality has now added back about 80% of the jobs lost in March and April 2020.
Construction employment increased 22 thousand, and manufacturing added 26 thousand jobs.
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