US unemployment rate drops to 7.8 percent as Canada’s inches higher

Monday, 08 October 2012 21:29:01 (GMT+3)   |  

The US Department of Labor reported Friday that the labor market added 114,000 nonfarm payroll jobs in September, as the unemployment rate fell 0.3 percent to 7.8 percent, the lowest level since January 2009. Additionally, 86,000 more jobs were added in July and August than previous reports showed. The drop in September brings the jobless rate down 1.2 percent over the past year.

Among those groups reporting job growth in September was the construction sector. The Associated General Contractors of America (AGC) said that construction employers added 5,000 jobs in September, but in unemployment rate was still up 0.6 percent from August when 1,000 jobs were added. The AGC cautioned, however, that construction employment has been relatively flat for more than a year as growing demand for residential and some commercial projects has been offset by declining public sector construction activity.

Meanwhile, Statistics Canada said that employment increased for the second consecutive month in September with 52,000 jobs added, but the unemployment rate still rose 0.1 percentage points to 7.4 percent as more people entered the labor market. In September, the number of construction workers rose by 29,000, following losses the month before. This leaves employment in the industry at a similar level to that of September 2011.


Similar articles

Trump drops tariff threat, EU remains cautious on progress of EU-US trade deal

23 Jan | Steel News

Trump administration doubles tariffs against Canada to 50 percent effective March 12

11 Mar | Steel News

Nippon Steel to drop purchase attempt for US Steel in favor of investment, Trump says in meeting with Japanese leader

07 Feb | Steel News

US October scrap seen mixed pending outcome of East Coast, Gulf Coast dockworker strike

27 Sep | Scrap & Raw Materials

US GDP plunges 32.9 percent year-on-year in Q2

30 Jul | Steel News

US GDP contracts 4.8 percent in Q1

29 Apr | Steel News

Liberty appoints new executive to drive US sales growth

24 Jul | Steel News

US iron and steel scrap exports down 20.8 percent in January

29 Mar | Steel News

US economy grows by 3.1 percent in 2018

21 Mar | Steel News

Trade war causes $7.8 billion loss to US economy in 2018, study finds

18 Mar | Steel News