Yesterday we reported on the recent Department of Labor unemployment report, showing jobless claims up slightly this week to 870,000 from 866,000 a week earlier.
Today, Friday October 2nd the Bureau of Labor Statistics reported the US added 661,000 jobs in September. This number is well below the 859,000 payroll additions expected by economists surveyed by Bloomberg. The unemployment rate fell to 7.9% last month, from 8.4% in September. However, this is slightly better than the 8.2% slide economists had expected. It’s important to note, this most recent report marks the fifth straight month of job growth since last April when COVID-19 began to drive historic losses.