US economy adds 103,000 jobs

US economy adds 103,000 jobs The US economy added 103,000 jobs in September, far exceeding analyst expectations of 60,000. Although the national unemployment rate remained steady at 9.1 per cent, September’s US department of labour report boosted financial markets following months of disappointing readings.

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.
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