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Anonymous

Job growth soars
    #3323892 - 11/05/04 11:54 AM (13 years, 7 months ago)

"Job growth soars

NEW YORK (CNN/Money) - U.S. job growth soared in October, blowing away even the most optimistic forecasts on Wall Street, as employers ended months of sluggish hiring that had caused worries about the strength of the economic recovery.

Employers added 337,000 jobs to their payrolls last month, up from a revised 139,000 in September, the Labor Department reported. Economists surveyed by Briefing.com were looking for a gain of 175,000.

The unemployment rate came in at 5.5 percent, up from 5.4 percent in September. The unemployment rate edged up because there were 367,000 more people in the labor force, the department said.

The jump in payrolls was the best gain since a gain of 353,000 new jobs in March kicked off three months of strong hiring. But job growth has lagged since then -- until Friday's report."



http://money.cnn.com/2004/11/05/news/economy/jobless_october/index.htm?cnn=yes


Edited by mushmaster (11/05/04 12:10 PM)


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