Job growth slipped to the slowest pace of the year in September, as companies struggle to hire due to the Delta variant and shortage of workers.
The economy added 194,000 jobs in September, which is the smallest increase since December of 2020 and a decrease from the revised 366,000 jobs added in August, the labor department said Friday, per the Wall Street Journal. The jobless rate fell from 5.2 percent to 4.8 percent a month earlier in part because many workers left the workforce.
While employment in private-sector industries rose by 317,000 in September, there has been a major decline in public-sector jobs, mainly schools.
Applications for initial jobless claims fell by 38,000 last week to 326,000, close to a pandemic low, the Labor Department said Thursday. And, the average hourly pay of private-sector workers jumped 4.6 percent in September compared to the year before, Labor Department data show, as employers raised wages to compete over a smaller pool of workers.
Indeed, people are avoiding work due to fears of catching the coronavirus, according to a survey by the job-search website Indeed. Other factors include parents staying home to care for their children as some schools remain virtual.
