MW: U.S. economy loses 95,000 nonfarm jobs in Sept.
WASHINGTON (MarketWatch) -- The U.S. labor market shed more jobs than expected in September, as state and local governments shed workers during the month. The Labor Department said Friday that total nonfarm payrolls shrank by 95,000 in September, higher than the 8,000 loss expected by Wall Street economists. Private-sector nonfarm employment expanded by 65,000 in September, lower than the 85,000 gain expected. The unemployment rate remained unchanged at 9.6%. Economists forecast the unemployment rate to rise to 9.7%. Average hourly earnings were flat at $22.67, below the 0.2% rise economists anticipated. Earnings are up 1.7% in the past year. August and July payrolls were revised lower by a cumulative 15,000 jobs.
