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October 06, 2006
Payroll Growth Slows

Payroll employment increased by 51,000 jobs last month, and the unemployment rate dipped slightly to 4.6 percent, according to a report by the Bureau of Labor Statistics of the U.S. Department of Labor reported.

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Healthcare employment grew by 24,000 in September. Financial activities gained 16,000 jobs in September, as employment continued to trend up in credit intermediation and insurance. Manufacturing lost 19,000 jobs in September.

Meanwhile, average hourly earnings of production or nonsupervisory workers on private payrolls rose by 4 cents, or 0.2 percent, in September to $16.84, seasonally adjusted. Average weekly earnings increased by 0.2 percent in September to $569.19. Over the year, both average hourly and weekly earnings increased by 4.0 percent.

The bureau also reported revised employment figures for August, saying payroll employment increased by 188,000 in August, up from 128,000 in the initial report.

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