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U.S. job growth slows according to latest data

U.S. job growth slows according to latest data

Employers added just 51,000 jobs in September, the fewest in almost a year, while the unemployment rate dropped down to 4.6 percent - offering a mixed picture of the nation's jobs climate.
Still, the new figures released by the Labor Department yesterday provided fresh evidence that the economy has moved into a slower phase of growth.
The new tally of payroll jobs added to the economy fell short of the 120,000 positions analysts were expecting. However, job gains for both July and August turned out to be bigger than previously estimated, helping to take some of the sting out of September's tepid payroll figure.
The 51,000 jobs added in September were the fewest since October, when the economy was still reeling from the blows of the Gulf Coast hurricanes.
The nation's unemployment rate dropped a notch from 4.7 percent in August to 4.6 percent, matching the rate seen in June.
Yesterday's snapshot is the next to the last one that Americans will get of the labor market before Election Day.
The last one will come on November 3 - just days before the November elections in which Republicans are trying to maintain control of both houses of Congress.
Voters' choices at the polls on November 7 are likely to be shaped in part by how they are faring economically. The administration says Americans are mostly better off, while Democratic rivals disagree.
President George W. Bush's approval rating on the economy is at 40 percent among all adults surveyed in an AP-Ipsos poll. That remains near his lowest ratings. The poll showed that people surveyed trusted Democrats to do a better job of handling the economy than Republicans.


Updated : 2021-07-29 02:25 GMT+08:00