Overview: The economy shed 95,000 jobs in September as the unemployment rate held steady at 9.6%. Consumer credit fell by $3.3 billion to $2.414 trillion in August. The ISM index rose 1.7 points to 53.2 in September. Pending home sales rose 4.3% in August. Factory orders fell 0.5% in August. Initial jobless claims fell by 11,000 to a level of 445,000 for the week ended 10/2.
The economy shed 95,000 jobs in September as the unemployment rate held steady at 9.6%. The private sector added 64,000 jobs in September.
Consumer credit fell by $3.3 billion in August to $2.414 trillion. This marks the seventh straight month of decline, and the 21st decline over the past 23 months. Since July of 2008, consumer credit has fallen by a record $167.7 billion.
The ISM index rose 1.7 points to 53.2 in September.
Pending home sales rose by a greater-than-expected 4.3% in August.
Factory orders fell 0.5% in August.
Initial jobless claims fell by 11,000 to 445,000 for the week ended October 2nd.
