October 7, 2014
Last Friday, markets were anxiously awaiting the release of the most recent jobs report. The Labor Department reported that, outside of the farm sector, the U.S. added 248,000 jobs in September well ahead of market expectations of 215,000 jobs added. Unemployment fell from 6.1% down to 5.9%; this decline marked the first time that the unemployment rate has been below 6% since July of 2008.
Preliminary reports had predicted a disappointing jobs number for the month of August and hinted at a potential U.S. slowdown. However, September's labor market gains have largely dispelled those worries and revised figures have shown that hiring in the summer months was stronger than previously reported.
Ethan Wade, Financial Advisor
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