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US September jobs figures disappoint US September jobs figures disappoint
(34 minutes later)
The US economy added 142,000 jobs in September - far lower than the 203,000 predicted by economists. The US economy added 142,000 jobs in September - far lower than the 203,000 forecasted by economists.
However, the unemployment rate held steady at 5.1%.However, the unemployment rate held steady at 5.1%.
The figures for both July and August were both revised down by a combined 59,000 jobs.The figures for both July and August were both revised down by a combined 59,000 jobs.
The disappointing figures cast doubt on whether the US Federal Reserve will decide to raise interest rates later this month.The disappointing figures cast doubt on whether the US Federal Reserve will decide to raise interest rates later this month.
More follows. The Labor Department numbers reinforced fears that the China-led global economic slowdown is hitting America's recovery.
Summer surprise
The number of new jobs for August was cut by 37,000 to 136,000 - in sharp contrast to the upward revision expected by economists.
The July total was also reduced, by 22,000 to 245,000.
The number of new jobs created in the US has averaged 198,000 a month for 2014 - below last year's average of 260,000.
The unemployment rate is derived from a separate survey of households, which showed that 350,000 workers dropped out of the labour force last month.
Wage woe
Average hourly wages fell by 1 cent to $25.09 during the month and were only 2.2% higher than the same month in 2014.
The poor figures erased a robust rise on the FTSE 100, leaving the London market just 0.4% higher at 6,100 points, while Wall Street is set to open about 1% lower.
The data also knocked the dollar lower - the pound rose 0.6% to $1.5238 after the numbers were released.