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Job losses in September were sharply higher than economists had expected, driving the unemployment rate to its highest level in 26 years and pushing the number of people out of work above 15 million.
The U.S. Labor Department revealed Friday that non-farm payrolls dropped 263,000 in September. Economists had expected a decline of 170,000 jobs, though some disappointing employment news over the last few days raised doubt about whether the result could meet expectations.
The report included revised data for the last couple months as well, showing that payrolls dropped by 201,000 in August and 304,000 in July.
The unemployment rate for September came in at 9.8% compared to 9.7% in the previous month. This represented the highest unemployment rate since mid-1983.
September saw the number of unemployed rise to 15.14 million, compared to 14.93 million in August. There were about 7.6 million unemployed at the end of 2007, when the recession officially began.
The construction sector lost 64,000 jobs in September, while manufacturing lost 51,000. There was a 38,000-job decline in retail. Professional and business payrolls slipped 8,000 and job in the leisure and hospitality sector declined by 9,000.
There were losses on the government payroll as well, with a decline of 53,000 for September.
Education and health jobs were up slightly in the month, edging higher by 3,000.
The average work week dipped to 33 hours after coming in at 33.1 in August. Average hourly earnings ticked up to $18.67 from $18.66.
Earlier this week, payroll processor ADP released its figures for private-sector employment. The report came in worse than expected, with payrolls dropping 254,000.
This was followed on Thursday by a disappointing report on weekly jobless claims. A Labor Department report showed that the number of people filing first-time unemployment claims climbed 17,000 last week to 551,000. Economists were looking for a reading around 535,000.
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