United States: Unemployment rate remains unchanged in September
October 7, 2011
In September, nonfarm payrolls increased by 103,000, which nearly doubled the revised 57,000 rise in August (previously reported: 0). Moreover, the print beat market expectations that had payrolls advancing 65,000. The unemployment rate remained unchanged at August's 9.1%. Following the trend seen in previous months, the private sector was responsible for all new hiring, adding 137,000 jobs, which beat market expectations of 95,000 new jobs. In contrast, the public sector shed 24,000 jobs. The economy lost 7.4 million jobs during the recession, which officially lasted from December 2007 to June 2009. Since then, the economy has only added 841,000 new jobs.