Concerns About Gov't Shutdown That Held Back US Job Growth In September Are Likely To Persist
WASHINGTON The uncertainty and weakness that hung over the U.S. job market in September before the government shut down aren't going away.
Employers will likely remain slow to hire as long as the economy struggles to accelerate, consumers limit their spending and Congress keeps putting off a resolution to a budget fight that will resurface early next year.
Just a few months ago, many economists predicted that hiring would pick up by year's end as the effects of tax increases and government spending cuts that kicked in this year faded.
No longer. The September jobs report made clear that hiring isn't strengthening. It's slowing.
Employers last month added 148,000 jobs, a steep drop from the 193,000 gained in August. From January through March, job growth averaged 207,000 jobs a month. For April through June, the average was 182,000. For July through September, it was just 143,000.
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