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USD falls after September jobs report as hiring slows

September payrolls rose by 29,000, down from August’s 133,000, with government employment falling by 17,000.

Reported · Written up by our desk · Economy

Forexlive reports the US September employment report showed a slowdown in hiring, with the economy adding 29,000 jobs. That compared with August’s 133,000 gain, which was revised from 162,000, and was driven by a partial offset from declining government payrolls.

The report also showed private-sector employment increased by 46,000 jobs, while government payrolls fell by 17,000. Forexlive noted construction, manufacturing, and health care continued adding jobs, while information, financial activities, and professional and business services lost ground.

Over the July–September period, nonfarm payrolls increased by 152,000, averaging about 51,000 jobs per month. Private employers added 163,000 jobs over the same span, averaging about 54,000 per month, while government employment declined by 11,000, averaging a loss of about 3,700 per month.

Forexlive said yields moved lower and stock futures pointed to a higher open after the data, with the US dollar falling following the jobs report. It characterized the labor market as still adding jobs overall but at a modest pace.

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