U.S. Employers Add 29,000 Jobs in September as BLS Cuts Prior 2 Months by 60,000
Updated
Updated · Yahoo Finance · Oct 25
U.S. Employers Add 29,000 Jobs in September as BLS Cuts Prior 2 Months by 60,000
3 articles · Updated · Yahoo Finance · Oct 25
Summary
29,000 jobs were added in September, down from 133,000 in August, marking a sharp slowdown in U.S. hiring, the Bureau of Labor Statistics said.
60,000 jobs were also stripped from July and August totals, reinforcing signs that the labor market is offering less support to workers seeking new positions.
For older workers pushed out late in their careers, that weaker backdrop can make reemployment look less worthwhile and increase pressure to retire earlier.
Social Security benefits are based on a worker’s 35 highest earning years, so stopping work at 63 can lock in lower-earning years that another strong paycheck could replace.
Claiming benefits at 63 instead of waiting until full retirement age of 67 permanently cuts monthly payments by 25%, making the work decision and the claiming decision financially distinct.