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A welcome change from the previous two months, the expected job growth acceleration was somewhat higher than forecast by multiple outlets.
U.S. employment rose by 194,000 jobs in September while the unemployment rate dropped to 4.8%.
In September, we predict job growth of 461,000 jobs.
August's results are disappointing and appear to be chiefly driven by the spread of the Covid-19 delta variant.
While the results are impressive, hurdles lie ahead with the Covid-19 variant leading some states and localities to reinstate some restrictions on activity.
The June labor market report will come as a relief to many after earlier lackluster growth, yet the U.S. employment level remains below its February 2020 total. Job creation was most pronounced in Leisure & Hospitality even as restaurants and hotels struggle to fill job openings.
While strong job growth in March indicated the job market was about to take off, the last two months have had disappointing outcomes.
Job market gains came from a strong performance in the Leisure & Hospitality sector in February that totaled 355,000 new jobs, an encouraging sign for the most beleaguered sector since the onset of the pandemic.