"Abysmal" private sector job growth, says Diane Swonk, noting 22K of the job gains came from government additions.
The headline jobs number missed estimates by 32K, but July and August revisions added 9K (July was revised lower by 15K, August higher by 24K).
Average workweek is unchanged at 34.5 hours. Average hourly earnings up $0.03 to $24.09, up 2.1% Y/Y.
Labor force participation rate of 63.2% and employment-to-population ratio of 58.6% are both unchanged from August. Labor force participation - of key importance to incoming Fed chief Yellen - is off 0.4% YTD. The broader U-6 unemployment rate slips to 13.6% from 13.7%. It was 14.2% a year ago.
Stocks and bonds both get jiggy following the numbers, which surely push thoughts of a Fed taper even further into the future. S&P 500 +0.3%, and the 10-year Treasury yield slips 8 basis points to 2.53%. TLT +1%, TBT -2%.