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Murky jobs picture likely to keep Fed on hold

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The Fed is expected to keep easing at full throttle well into next year, after September's tepid jobs report showed the impact of a painfully slow growing economy on employment.

The economy added 148,000 nonfarm payrolls, compared with expectations for 180,000, and a revised 193,000 in August. The jobless rate fell to 7.2 percent, from 7.3 percent.

The report, delayed by the government shutdown and released Tuesday morning, showed surprisingly low growth in the private sector of just 129,000 jobs and a weakening trend in the past several months. While August jobs were revised to 193,000 from 169,000, the July report was revised down to 89,000 from 104,000.

The report reflects an economy stuck in low gear, an environment likely to keep the Fed from slowing its $85 billion in monthly bond purchases any time soon. The Fed had been expected to begin to taper bond purchases this fall, but after the government shut down, Fed watchers moved their expectations to December at the earliest.