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And unemployment has been falling partly because many Americans have stopped looking for work and are no longer counted among the unemployed. Instead, they've retired, enrolled in school or given up on finding a job. The percentage of Americans working or looking for work
-- the so-called labor force participation rate -- remained at a 35-year low 63.2 percent in September. "The government shutdown and debt limit brinkmanship hurt the already softening job market in October," said Mark Zandi, chief economist at Moody's
Analytics, which helps compile the ADP report. "Any further weakening would
signal rising unemployment. '' The weaker job market makes it less likely that the Federal Reserve will announce any reduction this year in its $85 billion-a-month bond-buying program. The bond purchases are intended to push down long-term interest rates and encourage borrowing and spending. The Fed wraps up a two-day meeting Wednesday.
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