by Calculated Risk on 10/03/2008 08:30:00 AM

From the BLS:

Nonfarm payroll employment declined by 159,000 in September, and the unemployment rate held at 6.1 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Employment continued to fall in construction, manufacturing, and retail trade, while mining and health care continued to add jobs.

Click on graph for larger image.

This graph shows the unemployment rate and the year over year change in employment vs. recessions.

Nonfarm payrolls decreased by 159,000 in September.

The unemployment rate was steady at 6.1 percent.

Year over year employment is now negative (there are over half million fewer Americans employed in Sept 2008 than in Sept 2007). This is another very weak employment report.