Chart of the Day: Net New Jobs in September

The American economy gained 136,000 jobs last month. We need 90,000 new jobs just to keep up with population growth, which means that net job growth clocked in at a sluggish but decent 46,000 jobs. The headline unemployment rate dropped to 3.5 percent, the lowest rate in half a century.

The numbers below the surface were decent too. Employment was up, unemployment was down, and only a small number of people dropped out of the labor force—probably accounted for by older folks retiring. The labor participation rate stayed steady.

At the same time, as you can see, the trend line recently has been steadily downward for the past year or so. If this continues at its current rate, we’ll hit zero net job growth in the first quarter of 2020.

Blue-collar wages grew just slightly faster than inflation. There’s still a little bit of wage pressure in the economy, but it’s fading away.

THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

payment methods

THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate