Payrolls Miss Big: Just 134K Jobs Added But Revisions Add 87K; Earnings Come As Expected

The U.S. economy added 134,000 jobs in September, well below expectations, as the labor market still shows strength heading into the fall.  
The unemployment rate fell to 3.7 percent for the lowest level since December 1969, the Labor Department reported on Friday.
Mark Zandi, chief economist of Moody’s Analytics, said after a private survey found that businesses added 230,000 jobs last month, that at the current pace of job creation, unemployment will fall into the low 3 percent’s by this time next year.
Estimates had been for about 184,000 jobs in September.
There were 87,000 more jobs in July and August than initially reported.
After revisions, job gains have averaged 190,000 a month over the past three months, a sign of continued strength in the labor market. 
The economy has added jobs for 96 straight months, beginning in October 2010 under President Obama. It is the longest streak of monthly jobs growth on record.
Wage growth ticked up with average hourly earnings up 2.8 percent for the year.