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US jobs numbers hint at improvement

US jobs numbers hint at improvement
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US employment rose less than expected in October with 80,000 new hires whereas economist had expected 95,000.

The US economy has to add around 125,000 jobs each month to keep unemployment from rising.

However job gains in the two previous months were better than originally calculated by a total of 102,000 which suggested some improvement in the still-weak US labour market.

In addition the jobless rate fell a six-month low of 9.0 percent of the working population from 9.1 percent in September and that came as even more Americans entered the labour force.

Still almost 14 million Americans remain out of work and the latest figures do little to take the pressure off President Barack Obama, who faces a tough fight for re-election next year.

But they are probably good enough to keep the Federal Reserve from introducing more economic stimulus

Earlier in the week Fed Chairman Ben Bernanke criticised lawmakers saying: “It would be helpful if we could get assistance from some other parts of the government to work with us to help create more jobs.”

The household survey, from which the unemployment rate is derived, showed strong job gains for a third straight month that more than offset an increase in the labour force as more Americans resumed the hunt for work.