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Jeff Cox | @JeffCoxCNBCcom
Friday,3Oct2014|10:04AMETCNBC.com
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Job growth bounced back in September after a disappointing August, with the
U.S. economy creating 248,000 fresh positions.
The Bureau of Labor Statistics also reported that the unemploymentrate fell to
5.9 percent as the labor force participation rate fell to 62.7 percent, its lowest
level since February 1978. Taken together, though, the numbers renewed hopes
that employment growth is on a sustainable track higher.
Wall Street stocks jumed on the news.
Read MoreUS stocks gain as payrolls report tops forecasts
August's meager 142,000 reading was revised up to 180,000, while the July
number came up from 212,000 to 243,000.
The bounce in employment provided good news for the workforce in terms of
total jobs, but wages remained stagnant. The average hourly wage actually fell
one cent to $24.53, while the average work week edged higher to 34.6 hours.
Wage growth is at just 2 percent on an annualized basis.
Getty Images
A Chrysler assembly line employee in Warren, Mich., works on a Ram 1500 transmission, Sept. 25, 2014.
"This does not belie either improvement in general welfare or in the sense of
earnings for sufficient encouragement for people to get back in the labor force,"
said Mark Hamrick, Washington bureau chief for Bankrate.com.
Read MoreBest jobs for 2014
Professional and business services added the most positions, with 81,000, while
retail rose 35,000. Food and beverage contributed 20,000, due mostly to what
the BLS described as "employment disruptions at a grocery store chain in New
England," an apparent reference to the Market Basket impasse in the Boston
area. Health care grew by 23,000, while construction added 16,000.
The job creation was tilted heavily toward full-time positions, which surged by
671,000. Part-time jobs actually fell by 384,000.
An alternative measure that includes those who have quit looking for jobs or are
working part time for economic reasonsthe underemployeddropped from 12
percent to 11.8 percent.