US lost 95,000 jobs in September
Economists had expected the number of workers to remain unchanged. The unemployment rate is steady at 9.6%.
By Shanthi Venkataraman, TheStreet
The number of employed Americans fell by 95,000 in September. Economists were expecting the figure to be little changed, according to estimates from Briefing.com. The U.S. economy lost 57,000 jobs in August, revised from 54,000.
The unemployment rate was unchanged at 9.6%. Economists had expected the rate to climb to 9.7%. The number of discouraged workers -- those who no longer look for work because they believe no jobs are available -- rose by 503,000 to 1.2 million.
U.S. companies added 64,000 jobs during the month, lower than the projected increase of 75,000. Estimates of economists polled by TheStreet ranged from 60,000 to 100,000.
The government shed 159,000 jobs, reflecting the loss of temporary jobs related to the census and job losses in local government. Economists were expecting more job losses at the local government level as state governments battle heavy deficits and cut education costs.
The health care sector added 24,000 jobs in September. It has added 21,000 jobs per month on average this year.
The services sector added 28,000 jobs, with temporary help accounting for most of the gains. Leisure and hospitality showed the strongest job gains, employing 34,000 more people.
Construction, which has borne the brunt of the recession, shed 21,000 in September after adding 19,000 in August. The sector has shown little change in payrolls this year.
Employment in manufacturing, wholesale and retail trade was little changed.
The average workweek for all employees remained unchanged at 34.2 hours. Average hourly earnings rose 1 cent to $22.67 in September.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] S&P futures vs fair value: -3.40. Nasdaq futures vs fair value: -5.80. The S&P 500 futures trade three points below fair value.
Markets finished mixed across Asia. Reserve Bank of Australia Governor Glenn Stevens testified in front of the House of Representatives' Standing Committee on Economics and noted rates are likely to remain unchanged for the foreseeable future.
- In economic data:
- Japan's trade deficit narrowed to JPY1.02 ... More
More Market News
|There’s a problem getting this information right now. Please try again later.|
VIDEO ON MSN MONEY
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'