Commissioner's Statement on the Employment Situation News Release — 2008-10-03

Advance copies of this statement are made available to the press under lock-up conditions with the explicit understanding that the data are embargoed until 8:30 a.m. Eastern Daylight Time. Thank you for the opportunity to discuss the employment and unemployment data we released this morning. Nonfarm payroll employment declined by 159,000 in September. By comparison, from January through August, payroll employment decreased by 75,000 a month on average. In September, job losses continued in manufacturing, construction, and retail trade. Mining and health care employment continued to trend up. The unemployment rate was unchanged at 6.1 percent, following an increase of 0.4 percentage point in August. Manufacturing job losses continued in September (-51,000), with employment declines occurring throughout much of the sector. In particular, motor vehicle and parts manufacturers shed 18,000 jobs; over the past 12 months, employment in this industry has fallen by 140,000.