Jobs, September | featured news

Consumer sentiment unexpectedly rose in early September to its highest level in four months as Americans were more upbeat about their economic and job prospects, a survey showed on Friday.

The nation's economic stress fell in September to a 16-month low, thanks to more hiring in New England, fewer foreclosures in the mid-Atlantic and declining bankruptcy filings in the Southeast, according to The Associated Press' monthly analysis of conditions around the country.

The unemployment rate stayed flat at 9.6 percent in September, but the drop in employment was far worse than expected.

Consumer sentiment unexpectedly worsened in early September to its weakest level in more than a year, as distress over jobs and finances intensified among upper-income families.

A net 263,000 jobs were eliminated in September, pushing the jobless rate to a 26-year high. Stocks fall on the news. The nation's labor market took a turn for the worse in September as employers eliminated a net 263,000 jobs, far more than expected and reversing a pattern of steadily declining payroll losses in recent months, the Labor Department said today.