Home Members Tools Credit Cards
   

  • September Jobless Rate Steady at 9.1%

    The economy added more jobs than expected in September, the government reported on Friday. While not quite enough to reduce the unemployment rate, it may be enough to thwart another recession.

    Labor Secretary Hilda L. Solis said, "Our nation's labor market posted growth in the month of September.Ē

    Non-farm payroll employment added 137,000 private sector jobs. Health care added 44,000 jobs in September, for a total of 336,000 over the past year. Employment in professional and business services increased by 48,000 in September.

    Employment also rose in the telecommunications industry, but the 45,000 increase was due to Verizon employees returning from strike. Government employment continued its downward trend, losing 35,000 in September. Overall, total non-farm payroll jobs grew by 103,000.

    ďAdditionally, the reported July and August jobs numbers were revised significantly upward, meaning that we added 99,000 more jobs during those two months than previously was reported,Ē Solis said.

    Despite the reported increases in job growth, the unemployment rate has held steady at around 9 percent since the beginning of the year. Septemberís official jobless rate was 9.1 percent and of the 14.0 million who were unemployed in September, 44.6 percent had been jobless for 27
    weeks or more.


    Commenting on the Labor Departmentís report, Conference Board economist Kathy Bostjancic said that the modest economic growth may help us ďbarely escapeĒ another recession.

    Bostjancic said in a statement, ďThe main problem is that demand is simply too weak to support more robust job growth (more than 125,000 jobs per month). Employers are not going to step up hiring unless demand picks up. But consumers are not going to spend more until employment strengthens. There is no help on the way from monetary or fiscal policy, at the federal, state, or local level.Ē


    Sources:
    U.S. Bureau of Labor Statistics
    The Conference Board
  • Disclaimer

    Information in these articles is brought to you by Finance Globe. Banks, issuers, credit card, and other companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles and is further subject to our terms and conditions.
  • Recent Headlines and Articles

    ChrisB

    Want a Promotion? Do these Three Things

    There is nothing better than these words: you are getting a promotion. Not only does this mean more responsibility, which is something many workers crave, but it could mean more money as well. Talk about the best of... read more
    ChrisB February 26th, 2015, 09:56 AM
    ChrisB

    Donít make these 3 Tax Filing Mistakes

    When tax season rolls around, it is time to start thinking about your final return. It doesnít matter if you are filing your own return or hiring a tax professional to do the work for you, there are mistakes... read more
    ChrisB February 24th, 2015, 10:09 AM
    ChrisB

    Budgeting Challenges that are Easy to Overcome

    In a perfect world, you would never run into issues related to your budget. Unfortunately, this is not the way things work out.

    You will be presented with many budgeting challenges on a regular basis. Some... read more
    ChrisB February 23rd, 2015, 10:16 AM
    ChrisB

    Mistakes that Kill your Chance of Self-Employment Success

    Do you have dreams of working as a self-employed professional? Are you ready to take the leap and prove to yourself that you have what it takes?

    As excited as you may be, you will be faced with... read more
    ChrisB February 20th, 2015, 09:50 AM
    ChrisB

    Here are 3 Ways you are Wasting Money at the Office

    When you head to the office, you know one thing to be true: you are going to make some money. But is there a chance you are wasting money along the way as well?

    Believe it or not, some people spend hundreds... read more
    ChrisB February 19th, 2015, 10:05 AM
    ChrisB

    Ask your CPA these Questions During Tax Season

    With tax season in full swing, there is a good chance you have already contacted your CPA about filing your final return. If you havenít, you will (or should) be doing so in the near future.... read more
    ChrisB February 18th, 2015, 09:58 AM
    ChrisB

    5 Top Reasons to File a Tax Extension

    With the April 15 tax filing deadline bearing down on you, there is no better time than now to get organized. If you donít, you could find yourself up against the deadline, rushing around and... read more
    ChrisB February 17th, 2015, 10:18 AM

 

 

 

Credit Cards | Finance Social Network | Credit Card Reviews | Markets
About Us | FG on the Web | Sitemap | Privacy | Terms | Contact


Copyright © 2015 Finance Globe. All rights reserved.