A “recruiting” paper was placed on a table as recruiters from a teleperformance company interacted with job seekers at the Mega Job News USA South Florida Job Fair held at the Amerant Bank Arena in Sunrise, Florida.
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Job growth was nearly flat in September, according to data from investor giant Carlisle, which aims to close the data gap that has been created by the government’s closures.
The company said the increase in employment in the month was just 17,000, according to its own data, which is even lower than the 22,000 increase in August, as reflected in the Bureau of Labor Statistics data.
With the BLS shut down and data release halted until the impasse between Congressional Republicans and Democrats resolved, Wall Street businesses are rushing to offer alternatives to portray where the US economy is heading.
Carlisle’s data fluctuates somewhat with other releases showing little employment growth.
Payroll processing company ADP reported last week that 32,000 jobs had been lost in the private sector, including cuts due to adjustments to the BLS revision.
Reemployment support firm Challenger Grey and Christmas also reported last week that despite layoffs in September, the level of employment planning for companies reached its lowest level since 2009, when the economy was still feeling the impact of the global financial crisis.
Certainly, Carlisle’s data showed poor pay growth, while other economic indicators portrayed a brighter situation.
The company said its GDP growth rate in September was at a 2.7% annual rate, while capital investment accelerated by 4.8% on a three-month average annual rate. Carlisle also reported that while consumer prices for energy fell 3.8%, services except shelters, a key data point for the Federal Reserve, rose 3.3%.
Carlisle said it derives data from the company’s “a wide global portfolio” that includes 277 companies, 694 real estate investments and 730,000 employees.
Goldman Sachs recently saw employment statistics as weak, but a “low-handed employment growth” tracking survey announced that positions increased by 80,000 in September. Goldman also reported that the labour market is easing, with more workers than employment, reaching levels not seen in the past decade.
