Economic News

LONDON (AFX) - The UK economy grew below its long-run average in the third quarter of the year, following an unexpected fall in services output in July, a leading think-tank estimated today. The well-respected National Institute of Economic and Social Research reckons the output of the economy during the period was 0.4 pct higher than in the previous month. NIESR also reduced its estimate for gro ...

WASHINGTON (Dow Jones) -- Economists said Friday's September jobs report offered a mixed bag, while politicians wasted no time seeking to portray the data as either a ray of hope or a cloud of doom. The economy remains a top issue for voters heading into the Nov. 7 midterm elections. Control of Congress is at stake, with Democrats requiring a net 15- seat pickup to take control of the House, an ...

WASHINGTON (AFX) - The unemployment rate last month dipped to 4.6 percent even though the number of new jobs was disappointing, a sign the economy is slowing but in no danger of stalling as Election Day nears. Employers added 51,000 jobs to the nation's payrolls, the fewest new hires in 11 months -- a tally well short of the 120,000 positions private analysts predicted. Job gains for both July a ...

Treasury prices tumbled Friday, sending yields higher, after a government report showing a drop in the nation's jobless rate in September and sharp upward revisions to job creation in previous months. Taken together, the data dampened hopes that the Federal Reserve will be in a position to cut interest rates soon, meaning pressure on Treasurys. "We're looking for a continuation of some marke ...

LONDON (AFX) - European government bonds were lower, tracking US Treasuries after non-farm payrolls data for September came in well below expectations, but the detail of the report revealed massive upgrades to past data which suggest the US economy may be faring much better than previously thought. The Labor Department reported that US employers added 51,000 jobs in September, well below the 120, ...

LONDON (AFX) - The dollar suffered a knee-jerk sell-off after the headline number in today's crucial US jobs report disappointed to the downside, but soon struck its highest level against the euro since July 26 and a six-month high against the yen following a closer inspection of the data. The Labor Department reported that US employers added 51,000 jobs in September, lower than the 120,000 expec ...

WASHINGTON (Dow Jones) -- U.S. firms cut back their hiring in September to the slowest pace since last year's damaging hurricane season, but stronger job growth in July and August took much of the sting out of the weakness, government data show. U.S. nonfarm payrolls rose by an estimated 51,000 in September, the Labor Department said Friday. The increase in payrolls was lower than the 123,00 ...

Treasury prices tumbled early Friday, sending yields higher, after a government report showing a drop in the jobless rate in September and sharp upward revisions to job creation in the previous months damped hopes that the Federal Reserve will cut interest rates soon. Prices initially edged higher but quickly reversed course after the Labor Department said U.S. nonfarm payrolls rose by an estim ...

LONDON (AFX) - The dollar suffered a knee-jerk sell-off after the headline number in today's crucial US jobs report disappointed to the downside, but soon more than recouped its losses following a closer inspection of the data. The Labor Department reported that US employers added 51,000 jobs in September, lower than the 120,000 expected by Wall Street. The September rise was the lowest since la ...

WASHINGTON (AFX) - Employers added just 51,000 jobs in September, the fewest in almost a year, while the unemployment rate dropped down to 4.6 percent -- offering a mixed picture of the nation's jobs climate. Still, the new figures released by the Labor Department on Friday provided fresh evidence that the economy has moved into a slower phase of growth. The new tally of payroll jobs added t ...