U.S. economy adds 194,000 jobs in September, well below expectations; unemployment rate 4.8%
The Labor Department said in its closely watched employment report on Friday that nonfarm payrolls increased by 194,000 jobs last month. Data for August was revised to show 366,000 jobs created instead of the previously reported 235,000 positions.
September's employment report is the only one available before the Federal Reserve's Nov. 2-3 policy meeting. The U.S. central bank signaled last month that it could start tapering its monthly bond buying as soon as November. The Atlanta Fed estimates that gross domestic product growth braked to a 1.3% annualized rate in the July-September quarter. The economy grew at a 6.7% pace in the second quarter.
There were a record 10.9 million job openings as of the end of July. But many unemployed appeared to have stashed away some of the money from the government, and are therefore in no hurry to start looking for jobs.
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