September Jobs Report Way Below Expectations
Posted: October 3rd, 2015, 11:38 am
The U.S. economy created 142,000 jobs in September, a number that missed expectations and could cool expectations that the Federal Reserve will start raising interest rates soon.
Economists had been expecting the report to show 203,000 new jobs, from the downwardly revised 136,000 in August (from the originally reported 173,000).
"Disappointing across the board," said Brad McMillan, chief investment officer at Commonwealth Financial Network. "This is not what the markets were looking for, this is not what pretty much anybody expected."
The labor participation rate plunged to 62.4 percent in September, its lowest since October 1977.
Fed officials have been keeping a close eye on the jobs number for clues about when it would be appropriate to raise interest rates for the first time in more than nine years.
http://www.cnbc.com/2015/10/02/us-nonfa ... -2015.html
Economists had been expecting the report to show 203,000 new jobs, from the downwardly revised 136,000 in August (from the originally reported 173,000).
"Disappointing across the board," said Brad McMillan, chief investment officer at Commonwealth Financial Network. "This is not what the markets were looking for, this is not what pretty much anybody expected."
The labor participation rate plunged to 62.4 percent in September, its lowest since October 1977.
Fed officials have been keeping a close eye on the jobs number for clues about when it would be appropriate to raise interest rates for the first time in more than nine years.
http://www.cnbc.com/2015/10/02/us-nonfa ... -2015.html