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Economy Overview

United States

Report | United States Employment Update - September 2013

Summary

​August posted another month of stable, albeit slowing, employment growth. Total non-farm employment grew by 169,000 jobs, bringing the year-to-date total to 1.4 million. At the same time, unemployment dropped an additional 20 basis point to a recovery low of 7.3 percent. Growth was concentrated in the services sector, particularly retail trade, education and health services and leisure and hospitality, which were responsible for 64.7 percent of monthly job gains. Contractions in financial activities and information offset PBS growth, resulting in a net gain of 0 office-using jobs; this is the first time during the recovery that this has happened. Despite this setback, 2013 is still the most stable year in terms of total monthly growth, although subsector gains are becoming increasingly volatile.​

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