No Change Expected in US Unemployment Rate

Posted October 7th, 2011 at 7:20 am (UTC-5)
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The U.S. unemployment rate is expected to remain unchanged when the government issues its September jobs report on Friday.

Economists are predicting that employers added between 55,000 and 60,000 people to their payrolls last month — keeping the unemployment rate at 9.1 percent for the third straight month.

Much of September’s job gains would reflect the return of about 45,000 employees of telecommunications giant Verizon from a three-week walkout in August.

Concerns have been growing in recent months that the U.S. is moving towards another recession, due to the ongoing eurozone debt crisis and volatile stock market.

President Barack Obama urged congressional lawmakers during a press conference Thursday to approve his $447 billion jobs bill, saying it would boost economic growth by putting people back to work.