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Payrolls Fall 263,000 In September

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The economy lost more jobs last month than economists had predicted, according to new government data released Friday.

The U.S. Labor Department revealed that non-farm payrolls dropped 263,000 in September. Economists had expected a decline of 170,000 jobs, though some disappointing employment news over the last few days had encouraged doubt about whether the result could meet expectations.

August's results were revised to show a decline of 201,000 jobs.

The unemployment rate for September came in at 9.8% compared to 9.7% in the previous month.

(Market News Provided by RTTNews)

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