September Jobs Report: Economy Growing at a Stable, Balanced Rate
Bernard E. Anderson, PhD
Whitney M. Young Professor Emeritus,
The Wharton School of the University of Pennsylvania
Chief Economic Advisor,
National Urban League
U.S. employment increased by 254,000 in September, reflecting an economy growing at a stable, balanced rate.
While the overall unemployment rate changed little at 4.1%, the Black unemployment rate fell to 5.1%, bringing the Black/white ratio to 1.54, down from 1.60 in August and significantly down from the previously persistent 2:1 ratio.
The labor force participation rate was unchanged at 62.7%. Employment continued to trend up in food services and drinking places, health care, government, social assistance, and construction. There was little change in employment in other major industries. Average hourly earnings grew 0.4% month over month and 4.1% year over year.