U.S. Economy Loses 95,000 Jobs
|October 8, 2010||Posted by admin under DECODE - Assess/Plan|
WSJ: U.S. Economy Loses 95,000 Jobs
The U.S. economy continued to lose jobs last month as small gains in the private sector failed to offset big cuts in government workers, pointing to a still sluggish recovery.
USA Today: Jobless rate stays at 9.6%
Payrolls fall by 95,000 jobs as government layoffs hit
WASHINGTON (AP) — A wave of government layoffs last month outpaced weak hiring in the private sector, pushing down the nation’s payrolls by a net total of 95,000 jobs.
The Labor Department says the unemployment rate held at 9.6%. The jobless rate has now topped 9.5% for 14 straight months, the longest stretch since the 1930s.
The private sector added 64,000 jobs, the weakest showing since June.
Local governments cut 76,000 jobs last month, most of them in education. That’s the largest cut by local governments in 28 years. And, 77,000 temporary Census jobs ended in September.
Nearly 14.8 million people were unemployed last month. That’s almost 100,000 fewer than in August.