The monthly jobs report is always a good indicator of the condition of the United States economy. An increase in jobs confirms that businesses are expanding and willing to hire more. A slowdown or decline tells economists that businesses are contracting and becoming more conservative. The recent jobs report for September was truly a double edged sword. Although there was some good news, bad news was also rampant. While the private sector did manage to add some job, some sectors have been devastated by a slowdown. First and foremost, it is essential to look at the number of jobs created during September.

According to the report, approximately 154,000 jobs were created. Although this might seem like a big number, it is actually very low when looking at the bigger picture. In August, 175,000 jobs were added and July saw a job increase of 196,000. So, September’s figure is actually a major decrease from the previous months. And, it should be known that September was the slowest jobs growth since April. Certain sectors were responsible for decreasing this number. Mainly, the manufacturing sector has been deemed responsible. During the month of September, this particular sector lost a significant number of jobs. Manufacturing lost nearly 7,000 jobs during the month and this sector wasn’t alone.

Some of the highest paying jobs in the country, such as engineers and accountants, also experienced a down turn. September created fewer of these jobs than any other month in the past 5 months. The chief economists from Moody’s expects the decline to continue. Mark Zandi believes this decline will continue, since fewer people are out of work and employers will have a much tougher time finding suitable candidates for new positions. This has caused many Americans to take out short term loans, until they’re able to get back on their feet and find sufficiently paying jobs. Many of the company offering payload loans like Cashfloat.

America isn’t alone. Just today, Ericsson announced they would be consolidating manufacturing sites and this would equate to the loss of 3,000 jobs within the country of Sweden. Merck and Company also announced they would shutter a plant and that would lead to a total of 112 lost jobs. Meanwhile in County Longford, the Cameron manufacturing plant will be shut down by Christmas. This will result in the loss of 170 jobs and will greatly impact the local community. The jobs loss has been wide spread and has targeted areas outside of the United States as well.

The rate hike may once again need to be delayed after the September jobs report was released. Jobless claims continue to hold strong, with the ADP reporting less new jobs were created. However, since the jobless claims are holding steady there may a good chance that the Feds will consider the rate hike. The fear that many people have is as soon as the jobless claims go down the fears of a rate hike goes up. This could possibly cause trading to slow down, which is something that needs to be avoided. Nonetheless, only time will tell what the future holds.