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103,000 Jobs Added, Unemployment Holds At 9.1%
By
Jen Chung
Published Oct 7, 2011
Modified Oct 7, 2011
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By
Jen Chung
Published Oct 7, 2011
Modified Oct 7, 2011
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The United States added 103,000 jobs in September, which was more than what economists expected (Bloomberg News' survey put the increase at 60,000). Unemployment is still at 9.1%, which is what it was in August.
The Wall Street Journal breaks down the news, "Nonfarm payrolls rose by 103,000 in September as the private sector added 137,000 jobs, the Labor Department said Friday in its survey of employers. Payrolls data for the previous two months were revised up by a total 99,000 to show 57,000 jobs were added in August and 127,000 jobs in July. However, the September payrolls data was boosted by a one-time event: 45,000 telecom workers returning to their jobs following a strike at Verizon Communications Inc. in August."
And economists aren't sure if more jobs will be coming: Bernard Baumohl, chief economist at the Economic Outlook Group, told the NY Times, "Given the complete lack of clarity as to what the economic outlook will be and the uncertainty about what’s going on in Europe and the political paralysis in Washington, there is not much of an economic justification for employers to suddenly ramp up hiring." In order for the unemployment rate to drop to 8.1%, one tells Bloomberg News that job increases of 200,000/month are needed over a year.
President Obama has been trying to drum up support for his American Jobs Act, which economists think would help the country avoid another recession. Democrats have offered a plan to tax those making over $1 million 5.6% to finance the act, but the Republicans have problems with that.
Tagged
american jobs act
economy
jobs
president obama
recession
Unemployment
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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