US Non Farm Payrolls Witness Massive Drop Of 95000 (October 8, 2010)-
US non-farm payrolls slumped in September as state and local governments shed workers during the month. The Labor Department announced that total nonfarm payrolls shrank by 95,000 in September, higher than the 8,000 loss expected by markets. Private-sector nonfarm employment expanded by 65,000 in September, lower than the 85,000 gain expected. However, the unemployment rate remained unchanged at 9.6%. Average hourly earnings were flat at $22.67. August and July payrolls were also revised lower by a cumulative 15,000 jobs