Strong Jobs Report Eases Fears over Economy’s Health
October 17, 2007
The U.S. Department of Labor reported that employers added 110,000 new jobs in September. The report showed job losses in the housing and mortgage-related industries; however, higher job gains in health care and professional services compensated for the loss. The Labor Department revised its August job readings to a gain of 89,000 jobs, up from the 4,000 job losses the report originally showed. The report also showed that the unemployment rate reached 4.7% in September, up from 4.6% in August. Hourly wages increased 0.4% to reach an average of $17.57 an hour, and consumer borrowing rose at an annual rate of 5.9%, according to the labor report.
WashingtonPost.com – Oct. 6, 2007
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