September 2011 - US Economy Gains 103K Jobs - Unemployment Holds 9.1%

October 7, 2011

The U.S. economy had a net gain of 103,000 jobs in September, but that was not enough to cut the unemployment rate from 9.1 percent.

Friday's report from the Labor Department said the job gains came largely in the private sector, particularly in health care.

The monthly job gains were stronger than most economists had predicted and include 45,000 employees returning to work after a strike at telecommunications giant Verizon in August.

Local governments continued cutting employees because the sagging economy has cut their tax revenue.

Friday's report from the Labor Department says 14 million Americans are out of work. Four out of 10 of the unemployed have been off the job for six months or more.

President Barack Obama has urged Congress to approve his controversial $447 billion jobs bill, saying it would boost economic growth by putting people back to work.

Experts and politicians have been puzzling and arguing over the best way to create jobs and bolster the global economy. Perhaps they will get some new insight from the work of the person who wins the Nobel prize in economics, which is scheduled to be announced on Monday.