Jobless Rate Probably Climbed as U.S. Employers Limited Hiring

Posted by Forexsq 661 days ago (http://www.bloomberg.com)
img forexsq - The jobless rate in the U.S. probably rose in September as employers limited hiring, keeping the labor market’s lack of progress at the center of Federal Reserve deliberations and the presidential election.

Unemployment increased to 8.2 percent last month from 8.1 percent in August, according to the median projection of 88 economists surveyed by Bloomberg. Payrolls climbed by 115,000 workers, less than the 139,000 average over the first eight months of the year, the report may also show.

“We’re running in place,” said Ethan Harris, co-head of global economics research at Bank of America Corp. in New York. “A gain of around 100,000 or so jobs is just enough to absorb the population of new workers.”

Joblessness that’s exceeded 8 percent for an unprecedented 43 months is restraining incomes and impeding consumers’ ability to support the economy as global demand and business investment wane. Today’s release marks the second-to-last jobs report before the November elections as President Barack Obama and Republican challenger Mitt Romney debate who’s best equipped to boost employment.

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