Average hourly earnings climbed 2.8 percent from a year earlier, matching projections, while the jobless rate fell more than projected to 3.7 percent, the lowest since 1969. (Photo: Shutterstock)
U.S. hiring cooled in September by more than forecast, wage gains eased slightly and the jobless rate fell to a 48-year low, illustrating a tight labor market as well as the impact of Hurricane Florence.
Nonfarm payrolls rose 134,000 after a 270,000 gain the prior month that reflected a large upward revision, a Labor Department report showed Friday. The median estimate in a Bloomberg survey called for an increase of 185,000 jobs. Average hourly earnings climbed 2.8 percent from a year earlier, matching projections, while the jobless rate fell more than projected to 3.7 percent, the lowest since 1969.
Recommended For You
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
