The U.S. economy created far fewer jobs in September than anticipated, but revised job figures for previous months showed a surprisingly substantial uptick over what was previously reported.
The national economy created 51,000 jobs in September — analysts had been predicting 120,000 — and the unemployment rate dipped slightly from 4.7 percent to 4.6 percent, according to figures released today by the Labor Department.
The new figures, which painted a mixed picture of the national jobs situation, suggested that the economy is moving more slowly now but is not in immediate danger of falling into recession. Analysts said the report may also bolster forecasts that the Federal Reserve will leave rates where they are through the end of the year to determine whether growth is slowing enough to keep inflation in check.
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President Bush is scheduled to make a statement on job growth later this morning after participating in a roundtable on jobs and the economy in Washington. The figures released today are the next to last ones Americans will get of the national jobs climate before mid-term elections. The last figures will be released on Nov. 3, four days before Americans go to the polls.
As should be obvious, this might influence many people’s votes.
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