Labor Dept. Calls U.S. Job Growth 'Below Trend'

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00024727-labor-dept-calls-us-job-growth-below-tren/

By Rex Nutting, MarketWatch

U.S. job growth slowed in October even excluding the direct impact of two monstrous hurricanes, the Bureau of Labor Statistics said Friday.

U.S. nonfarm payrolls rose by 56,000 in October after a revised 8,000 loss in September, the agency said. The unemployment rate fell to 5% in October from 5.1% in September.

Job growth in August and September was revised lower by a cumulative 36,000.

“The overall report was modestly weaker than expected,” said David Berson, chief economist for Fannie Mae. But “it wasn’t a terrible report by any means.”

For this complete story, please visit Labor Dept. Calls U.S. Job Growth ‘Below Trend’.

Labor Dept. Calls U.S. Job Growth 'Below Trend'

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