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| US added 148,000 jobs in September | US added 148,000 jobs in September |
| (35 minutes later) | |
| The US economy added 148,000 jobs in September, official figures show, lower than analysts had predicted. | |
| The unemployment rate fell to 7.2%, down from 7.3% in August, the US Department of Labor said. | The unemployment rate fell to 7.2%, down from 7.3% in August, the US Department of Labor said. |
| The release of the figures was delayed by the partial shutdown of the US government earlier this month. | The release of the figures was delayed by the partial shutdown of the US government earlier this month. |
| Economists had predicted 180,000 job gains for September, and the lower-than-expected figure could raise fears the US economy is losing momentum. | |
| Employment in professional and business services grew at the fastest pace with 32,000 new jobs added. Leisure and hospitality was the only sector to see a fall with 7,000 jobs lost. | |
| Carl Leahey, senior adviser at Decision Economics, said the report was "so-so", and meant the US central bank was likely to continue its massive $85bn-a-month economic stimulus programme. | |
| "This report will soften people's assessments of current conditions. With the possibility of a replay of the budget showdown as early as mid-January, why would the Fed want to pull any levers now?," he said. | |
| Following the figures, stock markets turned higher, with the FTSE 100 up 0.5% at 6,688 and both the Dow futures and broader S&P index futures up 0.3%, as investors bet on the Fed continuing its stimulus programme at the same pace. | |
| The dollar fell, under pressure from the expectation that the stimulus programme, which effectively creates more dollars, will continue at the same rate, | |
| The US central bank, the Federal Reserve, maintained its economic stimulus programme last month, suggesting it was still uncertain about the strength of the economic recovery. | |
| "Today's underperforming jobs number fully justifies September's cautious FOMC (Federal Open Market Committee)," said Joseph Trevisani, chief market strategist at Worldwide Markets. |