• NRA
    NRA We Serve America's Restaurants Representing nearly 500,000 restaurant businesses, we advocate for restaurant and foodservice industry interests and provide tools and systems that help members of all sizes achieve success.
  • NRAEF
    NRAEF Building & Retaining Talent The NRAEF is focused on developing a stronger workforce and building the next generation of industry leaders through education, scholarships and community engagement.
  • NRA Show
    NRA Show May 20-23, 2017 As the international foodservice marketplace, the NRA Show provides unparalleled opportunities for buyers and sellers to come together, conduct business and learn from each other.
  • ServSafe
    ServSafe Minimize Risk. Maximize Protection. For over 40 years, ServSafe® training programs have delivered the knowledge, leadership and protection that have earned the trust and confidence of business leaders everywhere.

National Restaurant Association - Economist’s Notebook: September jobs report provides mixed signals for the economy

Skip to navigation Skip to content

News & Research

Share:
Email Print
News RSS

Economist’s Notebook: September jobs report provides mixed signals for the economy

In his latest commentary, the National Restaurant Association's Chief Economist Bruce Grindy analyzes the September employment report from the Bureau of Labor Statistics.  In what is often viewed as the most important economic release before the election, the report produced mixed signals for the economy. While the national unemployment rate fell to a 44-month low of 7.8 percent, employers reported a net gain of only 114,000 jobs in September. 

The September jobs report from the Bureau of Labor Statistics offered mixed signs about the economic recovery, with job growth remaining tepid and the unemployment rate falling sharply.

Based on the establishment survey, employers added a net 114,000 jobs in September, down from upwardly-revised gains of 181,000 jobs in July and 142,000 jobs in August.  The private sector only added 104,000 jobs in September, which is well below the average monthly growth of 145,000 jobs registered thus far during 2012.

After a strong start to the year, private sector job growth remained below 120,000 in five of the last six months, which is barely treading water this far into an economic recovery.

In contrast, the household survey painted a much different picture. The national unemployment rate stood at 7.8 percent in September, down from 8.1 percent in August and the lowest level in 44 months. The dive in the jobless rate was largely due to a sharp 873,000 increase in the number of employed individuals, the largest monthly gain in nearly 10 years. There was also a 456,000 drop in the number of unemployed individuals in September, and a 582,000 increase in the number of people that are employed part-time for economic reasons.

While the household survey is often the first to measure growth in a recovery because many new jobs are not at firms that are part of the establishment survey, it remains to be seen if the September numbers are part of a larger trend or just a temporary seasonal blip.

Monthly U.S. Job Growth
 US TNA Chart Oct 2012.gif
Source: Bureau of Labor Statistics, Establishment Survey; figures are seasonally-adjusted

For additional analysis of restaurant industry trends, log on to Restaurant TrendMapper (subscription required).

Conserve RSS Healthcare RSS Conserve RSS

▲ Back to Top

We're glad you're here!®

® 2012-2015 National Restaurant Association. All rights reserved.

2055 L St. NW, Suite 700, Washington, DC 20036
(202) 331-5900 | (800) 424-5156