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“It’s been so unpredictable. In-person school has not been reliable, and working moms had to balance that with trying to have a career.”

Economics Professor Alicia Sasser Modestino, Northeastern University, on the latest jobs report showing lower-than-expected job growth.

Published on

oct 11, 2021

  • The September jobs report showed 194,000 jobs added; the expectation was for 500,000.
  • The unemployment rate fell to 4.8% from 5.2% in August.
  • The decline in the unemployment rate was not from job growth, but a shrinking labor force - fewer people actively looking for work.
  • More women continue to leave the job market - economists say childcare during the pandemic continues to be an issue that disproportionately impacts women vs. men.
  • Why This Matters: The jobs report is very much about expectations; the lower-than-expected job growth and shrinking labor force raise questions about what's exactly happening in the job market – whether robust job growth will come with fewer COVID-19 cases and a declining Delta variant, or if there's a more significant change occurring in the job market, with some workers never willing to return to the same jobs they did in the past because of pay or environment.

Here's the jobs report from the U.S. government - and also an overview by CNBC.

America’s unemployed are sending a message: They’ll go back to work when they feel safe – and well-compensated.

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