U.S. Shows Surprise Job Gains in September
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Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 6.7%
Revenue Growth %: +2.5%
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In a sign that the bottom may not be falling out for the U.S. economy, the U.S. added more jobs than expected in September.
The U.S. Bureau of Labor Statistics reported Friday nonfarm payroll employment rose 103,000 in September, with the unemployment rate holding steady 9.1 percent. The gains easily topped the consensus of 60,000.
In addition to gains in September, July and August were revised higher. July was revised from +85,000 to +127,000, and the change for August was revised from 0 to +57,000.
Part of this month's gains come from the return of about 45,000 Verizon (NYSE: VZ) workers who had been on strike in August.
The number of unemployed persons was essentially unchanged at 14.0 million. The number of long-term unemployed (those jobless for 27 weeks or more) was 6.2 million in September.
The private sector added 137,000 jobs during the month, which exceeded the consensus of 90,000 job gains.
Employment in professional and business services increased by 48,00 during the month. Health care employment rose 44,000 and construction rose 26,000 over the month. Employment in information was up by 34,000, boosted by the return of about 45,000 telecommunications workers to payrolls after an August strike.
The U.S. Bureau of Labor Statistics reported Friday nonfarm payroll employment rose 103,000 in September, with the unemployment rate holding steady 9.1 percent. The gains easily topped the consensus of 60,000.
In addition to gains in September, July and August were revised higher. July was revised from +85,000 to +127,000, and the change for August was revised from 0 to +57,000.
Part of this month's gains come from the return of about 45,000 Verizon (NYSE: VZ) workers who had been on strike in August.
The number of unemployed persons was essentially unchanged at 14.0 million. The number of long-term unemployed (those jobless for 27 weeks or more) was 6.2 million in September.
The private sector added 137,000 jobs during the month, which exceeded the consensus of 90,000 job gains.
Employment in professional and business services increased by 48,00 during the month. Health care employment rose 44,000 and construction rose 26,000 over the month. Employment in information was up by 34,000, boosted by the return of about 45,000 telecommunications workers to payrolls after an August strike.
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