September Jobs Report Shows Slower Job Growth, Especially at Large Companies

Private sector job growth in September fell well below expectations at 89,000 vs forecast of 160,000.

Leisure and hospitality added 92,000 jobs, while transportation and business services saw declines.

Small and medium businesses added 167,000 jobs, large companies cut 83,000 jobs.

Pay growth for job stayers slowed to 5.9% annual rate, 12th straight month of slowing wage growth.

Job openings spiked to 9.6 million in August, but ratio of openings to unemployed dipped to 1.5.