Weak September jobs report

CNNMoney reported that the U.S. economy only added 142,000 jobs in September and the number of jobs created in July and August were revised down. Economists surveyed by CNNMoney predicted there would be 204,000 jobs gained in the month. With the disappointing report, the unemployment rate stayed at 5.1%, its lowest level in seven years. The weak September jobs report could be a sign that slowing global economic growth is beginning to hurt the U.S. job market. At least one large U.S. company — Caterpillar — cited the global slowdown for announcing 10,000 job cuts over the next few years. Uncertainty abroad can…

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