According to the Department of Labor, United States employment only rose by 194,000 in September, as opposed to an anticipated increase of 500,000 new jobs.
... [+]High inflation, supply-chain disruptions, nonconstructive partisan rhetoric in Washington, D.C. and a surge in the spread of the Delta variant led to a disappointing jobs report for September. The Department of Labor said that, as opposed to an anticipated increase of 500,000 new jobs.
Announcing the data in real time, CNBC reporter Steve Liesman said, “That is real low.” Liesman added, “It was weaker than expected.” The unemployment rate declined to 4.8%, while the expectation was for it to be around 5.1%. Making up for some of the enormous job losses during the beginning of the virus outbreak, the leisure and hospitality sector, representing roles in restaurants, bars, hotels and travel, once again led job creation. About 74,000 jobs were added in this area. Other drivers of growth were seen in professional and business services, which added 60,000 new jobs, and retail saw a boost of 56,000 hires.
A major problem for many Americans is the staggering amount of people who have been unemployed for over 27 weeks or longer. Nearly 3 million people have been without a job for over six months. This represents 34.5% of the total unemployed in September. Experts point to the continued spread of the Delta variant as an inhibitor of job growth. Although there are nearly 11 million jobs available, the highest on record, the Labor Department’s numbers suggest that people are not actively hunting for or accepting job offers.
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