Economy
October 10, 2019
Net Job Creation Through September 2019
Written by Peter Wright
The rate of job creation in September slowed to 136,000, but the details of job cuts and job openings continue to be historically very positive, according to Steel Market Update’s analysis of the latest Bureau of Labor Statistics data.
Net job creation in September declined to 136,000 from an upwardly revised 168,000 in August. July was revised up by 7,000 and August up by 38,000. Rising employment and wages are the main contributors to GDP growth because personal consumption accounts for almost 70 percent of GDP. Steel consumption is related to GDP; therefore, this is one of the indicators that help us understand the reality of the steel market.
