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| Version 1 | Version 2 |
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| US employment outlook brightens | US employment outlook brightens |
| (40 minutes later) | |
| The US created more jobs last month than expected while revised figures showed the labour market was stronger in August than first thought. | The US created more jobs last month than expected while revised figures showed the labour market was stronger in August than first thought. |
| The US Labor Department said the economy added 110,000 new jobs in September, higher than the 100,000 figure predicted by economists. | The US Labor Department said the economy added 110,000 new jobs in September, higher than the 100,000 figure predicted by economists. |
| And rather than shedding 4,000 jobs in August as initially estimated, 89,000 new jobs were actually created. | And rather than shedding 4,000 jobs in August as initially estimated, 89,000 new jobs were actually created. |
| Jobs data is seen as a key indicator of the health of the US economy. | Jobs data is seen as a key indicator of the health of the US economy. |
| Economists said the figures were better than expected but pointed out that the overall unemployment rate had risen to 4.7% from 4.6%, the highest for more than a year. | |
| Construction weakness | Construction weakness |
| Had August's initial estimate been confirmed it would have suggested a sharp slowdown in the economy since the economy has not shed jobs on a monthly basis for four years. | Had August's initial estimate been confirmed it would have suggested a sharp slowdown in the economy since the economy has not shed jobs on a monthly basis for four years. |
| In fact, the government revised upwards non-farm payroll figures for each of the past two months. | In fact, the government revised upwards non-farm payroll figures for each of the past two months. |
| For July, it now says 93,000 jobs were created as opposed to the 68,000 first estimated. | For July, it now says 93,000 jobs were created as opposed to the 68,000 first estimated. |
| Concerns about the strength of the labour market was one of the factors behind the Federal Reserve's decision to cut interest rates by a half point last month. | Concerns about the strength of the labour market was one of the factors behind the Federal Reserve's decision to cut interest rates by a half point last month. |
| It does not signal any great strength in the economy Michael Metz, Oppenheimer & Co | |
| The dramatic move followed the turbulence in global financial markets triggered by the slump in the US housing market. | The dramatic move followed the turbulence in global financial markets triggered by the slump in the US housing market. |
| The rise in August's jobs figure was largely due to the previous underestimation of government hiring, particularly of new teachers. | |
| While September saw a rise in recruitment in the services sector, there was a net loss in jobs in construction and manufacturing industries. | |
| "On balance, it was quite encouraging," said Michael Metz, chief investment strategist at Oppenheimer & Co. | |
| "However, looking at it on a sixth-month basis we still have a problem with very, very slow job creation. To me it does not signal any great strength in the economy." | "However, looking at it on a sixth-month basis we still have a problem with very, very slow job creation. To me it does not signal any great strength in the economy." |
| In reality, the US economy has to create about 100,000 jobs a month to replace those lost through retirement and natural attrition. | In reality, the US economy has to create about 100,000 jobs a month to replace those lost through retirement and natural attrition. |