Non-Farm Report Shows US Jobs Market Getting Worse
Friday, October 2nd, 2009More jobs were lost in September than expected and unemployment rate hits 26-year high of 9.8%.
NEW YORK (CNNMoney.com) — Employers cut more jobs from their payrolls in September and the unemployment rate hit another 26-year high, as the long-battered U.S. labor market took an unexpected turn for the worse, according to a government report Friday.
The Labor Department said there was a net loss of 263,000 jobs in the month, up from a revised loss of 201,000 jobs in August. Economists surveyed by Briefing.com had forecast losses would fall to 175,000 jobs.
