The bruhaha re: the ObamaCare systems implosion overshadowed the belated September jobs report.
To get you up to date …
Nonfarm employment increased by 148,000 in September … analysts were expecting 180,000 … which is about the average for the past 12 months.
Importantly, jobs are being added disproportionately in services (think hotels & fast-food places) … not in manufacturing.
And, there’s more to the story …
Jobs growth is barely keeping keeping pace with working-age population growth … so the ratio of employment to population — has been flat … after falling almost 5 percentage points from pre-financial crisis levels.
And, labor force participation rates continue to fall … especially among women.