BLS: Unemployment rate falls to 7.2 percent

The partial government shutdown delayed the Bureau of Labor Statistics’ September jobs report, but the full report was released on Tuesday. Though the unemployment rate reached 7.2 percent, its lowest level since November 2008, analysts think the American economy hasn’t fully bounced back from the recession.

“Today’s blistering jobs report has quickly reminded America that our economic problems are getting worse, despite talking point reassurances from Federal Reserve officials,” LandColt managing partner Todd Schoenberger told CNBC.

BLS’ report found that out of the 148,000 jobs that were added in September, about 122,000 were created in the private sector, notably within the transportation, construction and wholesale trade industries.

For human resources departments within these markets that have had difficulty finding qualified workers to fill demanding positions, using recruiting tools like HR software solutions can help fill the gaps.

Looking forward from the job report

Economists expected September to bring at least 180,000 new hires across the U.S., which makes the number from the BLS report somewhat disappointing. Furthermore, out of the 148,000 filled positions, 20,000 jobs were for temporary jobs.

CNBC stated that that the Federal Reserve will continue to buy $85 million in bonds until spring 2014. Brad Levitt, an economist explained that the “Fed wants to see over 200,000 jobs [per] month on a consistent basis before a change of policy.”

Businesses that are financially confident enough to take on more hires should look into HR software solutions to expedite the search for the fourth quarter.

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