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156K jobs added in September; US unemployment at five per cent- 8-Oct-2016
Washington: The US added 156,000 new jobs in the month of September but the unemployement rate in the world's largest economy rose slightly by 0.1 per cent to five per cent, according to latest government data released.
"Total nonfarm payroll employment increased by 156,000 in September, and the unemployment rate was little changed at five per cent," said the US Bureau of Labour Statistics.
The number of unemployed persons remained unchanged at 7.9 million.
In a statement, Jason Furman, Chairman of the Council of Economic Advisers, said the US businesses have now added 15.3 million jobs since early 2010.
"The longest streak of total job growth on record continued in September," he added.
Furman said real wages have grown faster over the current business cycle than in any since the early 1970s.
"Sustained real wage growth in recent years, combined with continued strength in job creation, has led to increased incomes for middle-class families: last month, the Census Bureau reported that real median household income increased 5.2 per cent from 2014 to 2015, the fastest annual growth on record," he said.
However he felt, more work still remains to be done to sustain faster wage growth.
To ensure that the benefits of the recovery are broadly shared, including increasing investment in infrastructure and implementing the high-standards Trans-Pacific Partnership, he argued.
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