President Obama's re-election campaign is feeling the heat of a new voter poll this morning. Very few...
Jobless rate steady, job growth strong in September
Job growth picked up to 103,000 last month, defying fears of a gathering slowdown in the economy, while the unemployment rate held steady at 9.1 percent, the Labor Department reported Friday morning.
The unexpectedly solid increase in jobs included 45,000 Verizon workers returning from strike. But the department also said that 99,000 more jobs were created in July and August than previously reported, suggesting that the economy has been performing better than thought on Wall Street and Main Street.
“I’m excited that we got a decent employment number — not great — but OK, given the challenges we face,” said John Silvia, chief economist at Wells Fargo Securities. “Certainly Verizon strikers impacted the data, but the underlying story is still growth — even if at a modest pace.”
Gains were particularly strong in health care, construction and professional and business services, where jobs grew by 44,000, 26,000 and 48,000, respectively.
Governments continued to shed jobs, however, with local governments laying off 35,000 people and the troubled U.S. Postal Services eliminating 5,000 jobs...
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