Unemployment Rates Falls to 7.3% Friday, September 6, 11:52 AM ET
This morning, the Labor Department reported that US employers added 169,000 new jobs in the month of August and that the unemployment rate fell to 7.3%. The report noted that the unemployment rate has fallen because the number of Americans who have stopped looking for work has increased, driving down the overall unemployment rate. Furthermore, the report revised the July figure from a gain of 162,000 jobs to a gain of just 104,000 jobs. Investors sent the market higher on the belief that the Federal Reserve will continue pumping money into the economy via its bond buying program as long as the labor market remains weak.
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