Business

Biden gambled that cutting off federal jobless aid would drive people back to work. The September jobs report blew a hole through that idea

18 days ago   |   By Business Insider

Chip Somodevilla/Getty Images
The number of jobs added in September came in at a paltry 194,000, far below economists' expectations.
It was the first report to capture the widespread impact of federal unemployment ending early.
The White House allowed federal jobless aid to end last month. Its gambit to get people back to work blew up in its face.
September showed conclusively that federal unemployment benefits weren't solely to blame for people staying home. Over the summer, 26 states ended their participation in federal unemployment benefits earlier than planned, cutting off an...
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America is back to school but teachers aren't

18 days ago   |   By Business Insider

Empty classroom in an elementary school.
Education Images/Universal Images Group/Getty Images
The September jobs report found a 144,000 decrease in local education employment.
The shocking loss could be partially due to failures in accounting for remote and hybrid learning.
Still, teachers have been leaving their jobs during the pandemic due to stress and low wages.
The US fell short of job estimates in September, adding just 194,000 payrolls. And teachers were not immune to these disappointing results. According to the Bureau of Labor and Statistics , local government lost 101,000 jobs...
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US stocks rise as investors weigh weak September jobs growth against prospect of continued Fed support

18 days ago   |   By Business Insider

Andrew Burton/Getty Images
Stocks wavered but ticked slightly higher at the open following a big miss in the US jobs report for September.
194,000 jobs were created last month, below the 500,000 expected in a Bloomberg survey of economists.
The recent wave of the Delta variant appears to have stoked the labor shortage.
Stocks were choppy but edged higher Friday after data showed September jobs growth was far weaker than anticipated but the big miss in the payrolls report kept alive the prospect the Federal Reserve will continue monetary support for the economy still recovering from the...
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