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Currency
by ForexNewsNow Team on October 8, 2010

Indicator analysis: U.S. economy sheds 95,000 nonfarm jobs

Indicator analysis - workers queingNEW YORK (Forex News Now) – The U.S. economy unexpectedly shed 95,000 nonfarm jobs in September, official data showed on Thursday in one of the day’s spotlight realtime forex news events.

In a key report for indicator analysis, the Labor Department said September’s job losses came after U.S. employers cut a revised 57,000 jobs in August.

Analysts had expected a slight increase of 3,000 jobs in September, two currency market trading news outlets reported.

However, the department said the U.S. unemployment rate held steady at 9.6 percent, defying expectations of a rise to 9.7 percent.

The department added that in September, government employment declined by 159,000 jobs, reflecting both a drop in the number of temporary jobs for Census 2010 and job losses in local government.

Private-sector payroll employment continued to trend up modestly by 64,000, the report said.

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