Job growth rebounded strongly last month and the unemployment rate fell below 6% for the first time in more than six years, easing fears the labor market was faltering again and providing a boost to congressional Democrats before the midterm elections.
The strong September jobs report was a relief to economists after a surprising hiring slowdown the previous month.
American companies announced the fewest planned layoffs in 14 years in September while initial unemployment claims dropped last week to near a post-recession low, two positive labor market signs ahead of Friday's jobs report.
Despite strong opposition from the NFL, the Federal Communications Commission is dropping a rule that has allowed the professional football league to black out games, saying the provision is as outdated as leather helmets.
The private sector added 213,000 net new jobs last month, indicating that the labor market rebounded after a disappointing August, payroll firm Automatic Data Processing said Wednesday.
Bill Gross, the unconventional but wildly successful money manager who helped build Pacific Investment Management Co. into a financial juggernaut, shook up the staid bond industry Friday by jumping ship to a rival firm.
Legendary bond investor Bill Gross is leaving Pacific Investment Management Co., the Newport Beach firm he co-founded, to join Janus Capital Group Inc. and manage a recently launched global bond fund, the company said Friday.
The U.S. economy grew at a 4.6% annual rate this spring, rebounding more strongly than initially estimated from a weather-related winter contraction, the Commerce Department said Friday.