Delayed September report shows U.S. added 119,000 jobs, more than expected; unemployment rate at 4.4%

[progree]

15. Some snips from two media reports

https://finance.yahoo.com/news/us-labor-market-gained-119000-jobs-in-september-as-unemployment-edged-up-slightly-153908135.html

ADP reporting that the private sector shed 29,000 jobs during the month ((of September -progree))

Once again, a sizable divergence between ADP and BLS. Remember also that ADP is private payrolls while BLS includes government workers federal, state, and local. BLS PRIVATE payrolls was +97k in September.

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https://finance.yahoo.com/news/unhelpful-split-verdict-september-jobs-report-makes-fed-next-move-unclear-161612323.html

the unemployment rate on an unrounded basis was 4.44%, which could create concern for some members of the Fed who view a level of 4.5% as cautionary.

Lower immigration is pushing down the supply of workers in the economy, putting the so-called break-even rate — the number of jobs needed to be added to the economy to keep the unemployment rate steady — at a range most Fed officials see between 30,000 and 50,000. The September print of 116,000 trumped that range.

So far this year, the economy has added an average of 76,000 jobs per month, roughly in line with the updated estimates of job creation needed to keep pace with population growth.

But the last 5 months averaged just 39k/month.