Employment rises as 660,000 million jobs added in September, unemployment rate falling to 7.9 percent.
Total nonfarm payroll employment rose by 661,000 in September, and the unemployment rate declined to 7.9 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In September, notable job gains occurred in leisure and hospitality, in retail trade, in health care and social assistance, and in professional and business services. Employment in government declined over the month, mainly in state and local government education.
WHAT DOES THIS MEAN FOR STAFFING?
The Staffing Industry as a whole traditionally sees slightly less net hiring in Q4. However, due to the historically high unemployment rate and jobs added in the first half of the year, there is greater optimism for staffing position openings in Q4 2020. We continue to see the Professional Services sector add jobs in September, for the sixth month in a row. There is a continuing demand for professional talent, further supported by the increase in ability to hire remotely across the U.S.