Posted on 10/08/2010 5:55:51 AM PDT by facedodge
WASHINGTON (MarketWatch) -- The U.S. labor market shed more jobs than expected in September, as state and local governments shed workers during the month. The Labor Department said Friday that total nonfarm payrolls shrank by 95,000 in September, higher than the 8,000 loss expected by Wall Street economists. Private-sector nonfarm employment expanded by 65,000 in September, lower than the 85,000 gain expected. The unemployment rate remained unchanged at 9.6%. Economists forecast the unemployment rate to rise to 9.7%. Average hourly earnings were flat at $22.67, below the 0.2% rise economists anticipated. Earnings are up 1.7% in the past year. August and July payrolls were revised lower by a cumulative 15,000 jobs.
(Excerpt) Read more at marketwatch.com ...
Is this “unexpected” again?
Almost a hundred thousand jobs lost the Unemployment Rate stayed the same? Sure!
I EXPECT SO............
Cooking the books for the Dems, the unemployment numbers keep going up and the percentage doesn’t change because more people “dropped out” of the work force. Of course, they “dropped out” because they haven’t been employed for over a year or more. Who in the world can be gullible enough to swallow government data?
WELL, THERE WERE A HUNDRED THOUSAND JOBS, “SAVED OR CREATED” TO OFFSET THE LOSSES................
The good news Las Vegas casinos will be accepting food stamps! Thanks to your Sen. Harry Reid.
Wow!
This should knock down the unemployment rate to about 7%.
That should help the rats out in the mid-terms.
This is like trying to sell people on the idea Skunks do not stink.
I hate to rain on the parade but this is actually good news.
The report indicates TOTAL dropped by 95k.
GOV and PRIVATE jobs comprise TOTAL.
PRIVATE is UP 65k.
That means GOV jobs dropped by 160k.
That, my friends who are worried about unsustainable pensions, is a GOOD thing.
Or have demanded an investgation of the departments responsible for putting out false figures?
Or who have gone on friendly radio or TV shows to alert the public how the enemies of the Republic are deliberately and shamelessly lying to us?
If there has been such an effort, please notify me immediately!
Crickets......
Leni
Since I’m not a so-called “expert” - I was completely EXPECTING these numbers.
I expect 200,000-500,000 private sector net layoffs in the period January-March because of the new tax rates and Obamacare kicking in.
Most of those private jobs are seasonal for the holidays. Also, I expect layoffs at the beginning of the year as businesses hunker down to weather the new higher tax rates and Obamacare.
Actually it is worse. yesterday 450,000 new unemploynent claims were reported to have been filed in the previous week.
That means that during September more than 1.8 million lost jobs. The Republicans on the stump have finally begun reporting the total jobs lost rather than the much smaller weekly change number.
The 1.8 million actual jobs lost per month for many months is much more scary that 10,000 new jobs lost per week and is never reported. This is media bias as it’s absolute worst. Bias by omission with an added twist of fabrication.
Agreed. I’m just happy to see the gov’t shrink.
I checked BLS and census websites once and found that there is a total of about 21 million fed, state, and local employees. That’s 1 in every 14. Way too much in my book.
This was unexpected?!? Gee, let's see if I can explain a good bit of those job losses. Hmm, ok, it's September... could there be a clue in that? Maybe it's because temporary/seasonal summer jobs are finished and kids are back in school where they belong. Yep, happens every year at this time.
I checked BLS and census websites once and found that there is a total of about 21 million fed, state, and local employees. That’s 1 in every 14. Way too much in my book.
A ratio of 1 to 14 would be too high, but the actual ratio is considerably higher. U.S. establishments employ about 135 million people. Therefore, the ratio is approximately 1 goverment employee for every 6.5 private sector workers.
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