The job market held steady in September, which probably means that voters will head to the polls next month amid an economy that is in solid but not spectacular shape.
U.S. employers added 156,000 jobs in September, the Bureau of Labor Statistics said Friday. That’s a touch weaker than in August, when they added 167,000 jobs, and a bit below economists’ expectations. But such month-to-month fluctuations mean little (and in any case are likely to change in future revisions). The big picture looks pretty much the same as it has for the past year: Job growth has slowed a bit from its breakneck 2014 pace, but remains solid. The U.S. has added jobs for a record 72 straight months, and has gained more than 14 million jobs over that span.
The details of the report were better than the headline numbers suggest. Hourly earnings rose as the tightening labor market forced companies to pay more to attract or retain workers. And the improving job market is drawing Americans off the economy’s sidelines: The labor force grew by 444,000 people. Both trends suggest that the recovery is finally reaching those hurt most by the recession.
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