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Employers added 254,000 jobs in September, blowing away forecasts (www.cbsnews.com)

submitted 3 months ago by MicroWave to c/economics

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Employers added 254,000 jobs in September, blowing away forecasts and reversing a slowdown in hiring that had prompted the Federal Reserve to make a jumbo rate cut at its meeting last month.

Economists had forecast 140,000 new jobs, according to financial data provider FactSet.

The unemployment rate inched down to 4.1%, versus 4.2% in the prior month.

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[–] [email protected] 1 points 3 months ago (1 children)

This is a market transaction... Why is workers age or family situatiom is a factor here?

Who benefits from the child being underpaid?

[–] FuglyDuck 1 points 3 months ago* (last edited 3 months ago)

Uhm, that’s where you went? First off it’s pretty obvious who benefits, but generally speaking, in places that hire high school kids and adults in a mixed setting, everyone gets the same pay. They’re being “under” paid relatively because they usually work fewer hours.

Most unskilled labor the rates are known before you ever apply, and that’s what they offer. You try and negotiate a better wage they’re going to laugh and move on to the next.

As for why their age is a factor at all? Because state and federal regulations make it a factor. There’s a lot of limitations on when, where and how long minors can work.

And unless you go in for child labor… that’s usually a good thing.