Source: AP/ CBS News
Washington – The United States added 103,000 jobs in September, a burst of hiring that followed a sluggish summer for the economy. The figure at least temporarily calms fears of a new recession that have hung over Wall Street and the nation for weeks.
The Labor Department also said Friday that the nation added more jobs than first estimated in July and August. The government’s first reading had said the economy added zero jobs in August.
The unemployment rate stayed at 9.1 percent.
While the report was clearly better than feared, it also showed the economy is not gaining much momentum, said Tom Porcelli, chief U.S. economist at RBC Capital Markets.
Nearly half of the job gains last month came from the rehiring of 45,000 Verizon employees who had been on strike.
To read this article in its entirety visit CBS News.