US Nonfarm Payroll Increases by 336,000 in September; Unemployment Unchanged at 3.8%

The US Bureau of Labor Statistics (BLS) reported on Friday (10-6-23) that total nonfarm payroll employment increased by 336,000 in September.

Notable job growth occurred in the following sectors:

• Social assistance added 25,000 jobs in September, about the same as the average monthly gain of 23,000 over the prior 12 months.
• Leisure and hospitality added 96,000 jobs in September, above the average monthly gain of 61,000 over the past 12 months.
• Government employment increased by 73,000 jobs in September, above the average monthly gain of 47,000 over the prior 12-month period. Employment in government remains slightly below its February 2020 (pre-pandemic) level.
• Health care added 41,000 jobs.
• Professional, scientific, and technical services employment increased by 29,000 in September, in line with the average monthly gain of 27,000 over the past 12 months.
• Social assistance added 25,000 in September, in line with the prior 12-month average of 23,000 new jobs per month.

Employment was little changed in other major industries including mining, quarrying, and oil and gas extraction; construction; manufacturing; wholesale trade; retail trade; financial activities; and other services.

The unemployment rate held steady at 3.8%, and the number of unemployed persons was essentially unchanged at 6.4 million.

The BLS notes that monthly revisions result from additional reports received from businesses and government agencies since the last published estimate and from recalculations of seasonal factors. As a result, the change in total nonfarm payroll employment for July was revised upward by 79,000—from 157,000 to 236,000—and the change for August was revised up by 40,000—from 187,000 to 227,000. With these revisions, employment in July and August combined is 119,000 higher than previously reported.