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Purveyor

(29,876 posts)
Tue Oct 22, 2013, 01:50 PM Oct 2013

Job-Creation Weakens, But Unemployment Rate Down

September saw the U.S. economy add just 148,000 jobs, significantly worse than expected, according to a report delayed more than two weeks by the government shutdown.

The unemployment rate unexpectedly fell to 7.2 percent, the lowest since November 2008, as the labor-force participation rate held near 35-year lows, according to the Bureau of Labor Statistics.

Private payroll creation stood at just 122,000, with state and local governments adding 28,000 positions and the federal government cutting by 6,000.

(Read more: More young people are out of school...and out of work)

Economists had been expecting 180,000 new positions and a steady jobless rate.

"This kind of report adds to the sense of foreboding about our economy," said Claire McKenna, policy analyst at the National Employment Law Project.

MORE...

http://www.cnbc.com/id/101131915

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