The August figures showing a disappointing lack of jobs growth were revised upwards by 57,000 jobs, while July's data were also revised upward by an additional 42,000 jobs - a two month gain of nearly 100,000.
Though September's 103,000 figure is stronger than anticipated, the number is slightly inflated by the ending of a telecoms strike, which brought 45,000 people back into the workforce.
The private sector added 137,000 jobs, but the government lost 35,000 positions, a downward trend which President Barack Obama said needed to be focused on.
"We know that the biggest problem that we've had in terms of unemployment over the last several months has not been in the private sector; it's actually been lay-offs of teachers and cops and firefighters," he said in a speech on Thursday. "We created over 2m jobs in the private sector - a million jobs this year alone in the private sector, but in the public sector, we keep on seeing these lay-offs having an adverse effect on economies in states all across the country."
The successive months of negative economic indicators have weighed heavily on Obama's standing, as he attempts to push a jobs package through US Congress next week. The legislation includes stimulus measures, tax increases on businesses and job creation programmes. He has faced Republican opposition, especially over increasing corporate and individual taxes.
Recent jobless data has been mixed after months of mounting concern about the US economic recovery.
"The underlying trend in hiring still appears very weak, perhaps even weaker than August," Goldman Sachs analysts said before the release. "But recent US growth data have been mildly encouraging, lay-offs have stayed fairly low and the headline payroll number will be boosted by the return of 45,000 striking communications workers."
Last week, US jobless claims rose modestly to 401,000, according to data released on Thursday, hovering near the level considered indicative of an improving labour market. Initial claims for unemployment insurance were up 6,000 in the week ending October 1 from an upwardly revised 395,000 the previous week. source www.moneycontrol.com
For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
Related Post:
economic
- how will impact Hurricane Sandy on economic losses
- how will Survey China manufacturing for October 2012
- UK Economic out of the double-dip recession report today oct 25 2012
- UK retail sales report september 26 2012
- Canadian interest rate forecast September 2012
- official figures US economic growth q2 2012
- German business climate outlook report 8/27/2012
- US Unemployment Claims report 23 august 2012
- July US Existing Home Sales report 22 august 2012
- Economic calendar week august 20-24 2012
- Financial Markets for august 13 -17 2012
- U.S. unemployment rate outlook july 2012
- U.S. Food Prices forecast 2013
- China inflation rate forecast july 2012
- July U.S. Jobs Report august 3 2012
- U.S. Consumer Confidence Index july 2012
- IMF estimates Spanish GDP growth 2012-2013
- us consumer price index forecast 2013
- Chinese economic growth outlook Q2 2012
- impact economic problems of Greece, Spain and Italy on stock markets
- Will US. Economic Recession 2013
- U.S. employment data report july 6 2012
- US Consumer Confidence Index down may 2012
- 2012 march US new home sales fell
- FOMC meeting expected april 24 2012
us stock
- U.S. Stock Futures news today february 14 2013
- U.S. stocks market rose today Rise on Earnings
- Barack Obama invited congressional leaders to the White House a last-ditch effort to broker a deal
- NASDAQ, Dow Jones, S&P Analysis today dec 27 2012
- Chart S&P 500 price target forecast 2013
- Impact U.S. budget crisis stock market drop
- U.S. stock Dow Jones futures Down today
- Analysis Stock market down november 15 2012
- U.S. stock futures Dow Jones rose november 12 2012
- analysis S&P 500 index next week nov 12-16 2012
- Why Stocks market and dollar down after obama win
- Hurricane Sandy will close U.S. stock markets
- Stock market will focus US election next week october 29 2012
- Why Wall Street Stock down october 17 2012
- Impact U.S. Presidential election on financial market november 2012
- U.S. stock futures ahead of payrolls report 10/5/2012
- U.S. stock futures Dow Jones up 9/28 2012
- Dow jones futures outlook september 12 2012
- U.S. stock Dow Jones futures higher september 11 2012
- US. Stocks Market closed september 4 2012
- US. Stock futures higher wait Bernanke speech 8-31-2012
- US Stock Dow jones Futures Down 8/30/2012
- U.S. Stocks Movers 8/27/2012
- US. Stock dow jones futures fell 8/27/2012
- S&P 500 outlook next week august 27-31 2012
No comments:
Post a Comment