HolyCoast: Half the "New Jobs" in September Nothing More Than Returning Strikers

Friday, October 07, 2011

Half the "New Jobs" in September Nothing More Than Returning Strikers

The job market is still considerably anemic:
Employers in the U.S. added more workers to payrolls than forecast in September and job gains were revised up in the prior two months, easing concern the economy is at risk of a renewed recession.

Payrolls climbed by 103,000 after a revised 57,000 increase the prior month, Labor Department data showed today in Washington. The median forecast in a Bloomberg News survey called for a rise of 60,000. The gain reflected the return to work of 45,000 telecommunications employees. The jobless rate held at 9.1 percent.
The latest forecast I've seen projects unemployment at 9.4% in 2012 and holding at that level all year.

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