Economics
U.S. Payrolls Growth Misses Big Again With Smallest Gain of Year
- Unemployment rate falls as size of labor force shrinks
- Employment rose by 194,000 in September, smallest this year
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U.S. job growth in September was the slowest this year, signaling a tempering of the labor market recovery and complicating a potential decision by the Federal Reserve to begin scaling back monetary support before year end.
Nonfarm payrolls increased 194,000 last month after an upwardly revised 366,000 gain in August, a Labor Department report showed Friday. The unemployment rate fell to 4.8%, partly reflecting a decline in labor force participation among women. Meantime, average hourly earnings jumped.