WASHINGTON, DC-The US economy added 148,000 jobs in September, according to new stats from the US Labor Department. This report had been expected on Oct. 4, but was delayed due to the shutdown.

Labor also reported that the unemployment rate fell to 7.2% from 7.3%, the lowest since November 2008, due to record low participation in the labor force.

The numbers were disappointing; economists had been expecting the economy to generate some 180,000 new positions. The report also included an upward revision of August job gains by 24,000 to 193,000. July gains were revised downward from 104,000 to 89,000.

One bright spot for the commercial real estate industry was the creation of 20,000 jobs in the construction sector. The retail and transportation sectors also posted strong—relatively speaking—gains.

The two-week government shut down is expected to have curtailed growth in fourth quarter and the September job figures, at least in part, may be a reflection of the shutdown as well. It is thought that employers hesitated to add to their payrolls in the run-up to the clash in Washington.

Another fallout from that event: it is less like that the Federal Reserve Bank will begin tapering, at least until the extent of the economic damage done by the shutdown and debt ceiling standoff is clear.

Commenting on Tuesday's job numbers, Chris Muoio, chief economist with Auction.com Research, notes that September's payroll gain fell "below the average gain of 177,000 we have seen through the first nine months of the year." On the bright side, although the numbers are below average, "this payroll gain puts second half slowdown worries to rest, even though the current pace remains sub-optimal."

Further, Muoio notes that temporary employment continues to be one of the main drivers of payroll gains, with temp services seeing gains of 2% over the past three months, while  employment services has seen gains of just 1.2%. "The sectors are 9% and 8.1% higher than a year ago respectively," he says. "While the pick-up in temporary employment has become a bit of a political football, we believe it reflects both the continued tenuous nature of this recovery, and uncertainty of costs relating to the Affordable Care Act."

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.