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Job market gets brighter, but only a little: Economy adds 80,000 jobs; rate falls to 9%
WASHINGTON - The American job market improved modestly in October, and economists looking deeper into the numbers found reasons for optimism ` or at least what counts for optimism in this agonizingly slow economic recovery.
The nation added 80,000 jobs. That was fewer than the 100,000 that economists expected, but it was the 13th consecutive month of job gains. Fears of a new recession that loomed over the economy this summer have receded.
The unemployment rate nudged down, to 9 per cent from 9.1 in September.
"Those are pretty good signs," said Michael Hanson, senior economist at Bank of America Merrill Lynch. "We're hanging in there."
Read the full article here.
WASHINGTON - The American job market improved modestly in October, and economists looking deeper into the numbers found reasons for optimism ` or at least what counts for optimism in this agonizingly slow economic recovery.
The nation added 80,000 jobs. That was fewer than the 100,000 that economists expected, but it was the 13th consecutive month of job gains. Fears of a new recession that loomed over the economy this summer have receded.
The unemployment rate nudged down, to 9 per cent from 9.1 in September.
"Those are pretty good signs," said Michael Hanson, senior economist at Bank of America Merrill Lynch. "We're hanging in there."
Read the full article here.