Employers add 103,000 jobs in September
The United States added 103,000 jobs in September and although it is an encouraging sign and an increase over summer rates, it was still not enough to lower the doggedly persistent 9.1 percent unemployment rate, The Associated Press reports.
The number is a significant rise compared to the average of 72,000 jobs added per month over the last five months, but the Labor Department says that employers will have to add about twice that each month to put any substantial dent in the unemployment rate. The areas that saw the most rains were retail, construction and healthcare, while the public sector actually cut 34,000 jobs.
Perhaps the most troubling statistic is the so-called underemployment rate. According to the AP, the number of people who are working at temporary jobs who would rather have permanent positions has risen slightly to 16.5 percent from 16.2 percent.
The latest statistics come soon after President Barack Obama laid out his ambitious plan to create more jobs. The $445 billion program has been met with some criticism from Republican opponents, but Obama has ratcheted up the rhetoric to pressure them into passing the legislation. The bill includes stimulus spending for schools, roads and bridges while also including provisions that would raise taxes on the wealthiest citizens, BusinessWeek reports.
"I think the American people will run them out of town because they are frustrated and they know we need to do something big," Obama said Thursday.
The President's proposal is expected to come up for debate on the Senate floor some time next week and Obama has touted it as a protection against a double-dip recession should the economic woes in Europe spread to the U.S.