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Impressive Employment Report Amid Concerns of Recession


Tesla CEO Elon Musk says he is backing out of buying Twitter. Plus, NBC News’ Tom Costello reports on today’s employment report, which exceeded expectations with more private sector jobs added than existed before the pandemic. The U.S. economy added 372,000 jobs last month according to data from the Bureau of Labor Statistics. Many industries saw big gains including health care, business services, leisure and hospitality, transportation, and manufacturing. Unemployment is still near 50-year lows with more jobs open than workers to fill them.» Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of innovative and powerful news brands that deliver compelling, diverse and engaging news stories. NBC News Digital features NBCNews.com, MSNBC.com, TODAY.com, Nightly News, Meet the Press, Dateline, and the existing apps and digital extensions of these respective properties. We deliver the best in breaking news, live video coverage, original journalism and segments from your favorite NBC News Shows. Connect with NBC News Online! NBC News App: Breaking News Alerts: Visit NBCNews.Com: Find NBC News on Facebook: Follow NBC News on Twitter: #recession #economy #jobs Strong Jobs Report Despite Recession Fears...(read more)


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Despite the fears of an impending recession, the latest jobs report has shown strong growth in the US labor market. The United States Department of Labor reported on Friday that the US economy added 136,000 jobs in September, with the unemployment rate falling to 3.5%, its lowest point in more than 50 years. The September jobs report has come as a surprise to many economists who had been predicting a slowdown in job growth due to the ongoing trade war with China and other challenges facing the economy. However, despite the concerns, the US labor market has continued to expand, driven by strong consumer spending, a robust housing market, and low interest rates. The report showed that job gains were spread across various sectors, including healthcare, professional and business services, and government. The employment rate for women reached its highest point in over a decade, with 50,000 more women finding jobs in September alone. The labor force participation rate also increased slightly to 63.2%. However, the report was not entirely positive, with wage growth slowing to an annual rate of 2.9%, down from 3.2% the previous month. This suggests that despite the tight labor market, employers are not yet willing to raise wages significantly. While the strong jobs report is an encouraging sign, there are still concerns about the broader health of the economy. The manufacturing sector, in particular, has been hit hard by the trade war with China, with many firms cutting back on investments and laying off workers. There are also concerns about the growing level of household debt, which could lead to a slowdown in consumer spending. The ongoing political uncertainty surrounding the impeachment inquiry against President Trump and the upcoming 2020 election could also have an impact on the economy. Despite these challenges, the September jobs report is a positive sign for the US labor market and the broader economy. It shows that despite the ongoing uncertainty, the US economy is still creating jobs and that the job market remains tight. There is still work to be done to address broader economic challenges, but the positive trends seen in the jobs report offer some hope for the future. https://inflationprotection.org/impressive-employment-report-amid-concerns-of-recession/?feed_id=97665&_unique_id=646192275d06f #Inflation #Retirement #GoldIRA #Wealth #Investing #breakingnews #eveningnews #Health #internationalnews #LesterHolt #MakingADifference #nationalnews #NBCNightlyNews #news #NightlyNews #politics #U.S.News #worldnews #RecessionNews #breakingnews #eveningnews #Health #internationalnews #LesterHolt #MakingADifference #nationalnews #NBCNightlyNews #news #NightlyNews #politics #U.S.News #worldnews
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