Unemployment rate stays at 9.6%

Despite an increase in private sector hiring, the September jobless rate remained at 9.6% with a net loss of 95,000. Most layoffs were among local government workers and teachers. The jobless rate has been over 9.5% for 14 straight months and many economists predict this could rise to 10%
The private sector added 64,000 jobs in September, weaker than expectations. Despite this the stock market closed over 11,000 for the first time since May, this year.