Jobs report: local government shrinks, private sector growth anemic

[30ashopper]

The economy shed 95,000 nonfarm jobs in September, the Labor Department reported Friday, with most of the decline the result of the layoffs by local governments and of temporary decennial Census workers.

The steep drop was far worse than economists had been predicting. Most estimates were for a loss of only a few thousand jobs.

?September?s U.S. payroll report adds to the evidence that the recovery is losing what little forward momentum it had,? said Paul Ashworth, senior United States economist at Capital Economics.

http://www.nytimes.com/2010/10/09/business/economy/09jobs.html

A mixture of good and bad. Local and state governments are shrinking, long term that's good for state budgets and pensions.

However private sector growth isn't keeping up with the number of people entering the market for the first time, returning underemployed /unemployed workers, and the additional public service employees injected into the private sector.

Overall Obama's "summer of recovery" has netted just over 300K new private sector jobs over the last nine months. A dismal growth record, to say the least.

 

[Matt J]

Apparently it's BP's fault.

BP Claims Causing Quiters

 

[Andy A]

Apparently it's BP's fault.

BP Claims Causing Quiters

EVERYTHING is someone else's fault. May I respectfully suggest we start looking at ourselves to find both the fault and the solutions.

 

[beachFool]

EVERYTHING is someone else's fault. May I respectfully suggest we start looking at ourselves to find both the fault and the solutions.

I could not agree more.