US economy adds 194,000 jobs, unemployment slips to 4.8%

By Tuba Sahin

ANKARA (AA) - The US economy generated 194,000 more jobs in September, lower than market estimates, and the unemployment rate decreased to 4.8%, the Department of Labor revealed on Friday.

The market estimate for nonfarm payrolls was an increase of 500,000, while job additions for August were revised up by 131,000 from 235,000 to 366,000, according to data by the Bureau of Labor Statistics.

"Notable job gains occurred in leisure and hospitality, in professional and business services, in retail trade, and in transportation and warehousing," it said, adding that it declined in public education.

With the rise in nonfarm payrolls, the unemployment rate slipped by 0.4 percentage points in September. The unemployment rate was 5.2% in August.

The number of unemployed individuals in the US dropped by 710,000 to 7.7 million in September.

"Both measures are down considerably from their highs at the end of the February-April 2020 recession. However, they remain above their levels prior to the coronavirus pandemic (3.5% and 5.7 million, respectively, in February 2020)," it added.