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U.S. Jobless Rate Edges Up to 7.9%
American employers added 171,000 jobs last month, according to the Dept. of Labor.
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American employers added 171,000 jobs last month, according to the Dept. of Labor.
The Labor Dept. revised upward its estimate for job gains in August and September by a combine 84,000 positions. The economy has added an average of 173,000 jobs per month since July, more than double the rate this spring.
The unemployment rate, which is based on a separate survey, worsened slightly to 7.9% in October from 7.8% the month before. Economists attribute the change to an increase in the number of people who re-entered the job market.
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