From AOL Daily Finance Friday, September 03, 2010
Americans received some rare good news about the U.S. economy Friday, with a report from the Labor Department that the private sector added 67,000 jobs in August, more than the 40,000 gain economists had forecast. But that unexpected increase was more than offset by the well-anticipated drop in government payrolls: The number of temporary U.S. Census workers fell by 114,000, accounting for the bulk of a 121,000 decline in government jobs. In total, the U.S. lost 54,000 jobs in August.
And, if August was better than expected, June and July now appear to have been less bad than they previously appeared. Job loss totals were revised to 175,000 for July and 54,000 for June, down from the previously estimated 221,000 and 131,000 figures, respectively, which amounts to 123,000 fewer jobs lost than earlier reported.
The consensus of economists surveyed by Bloomberg had been that the economy would lose 90,000 jobs in August, primarily due to the loss of about 130,000 government jobs — mostly those once-in-a-decade temporary Census jobs. Read more here.
It’s going to be a long, long, journey of many seasons for us. We’re going to have to hunker down, do everything in our power to support ourselves and our families and ride it out.
We need to hold both the Dems and Repubs accountable, especially the GOP OBSTRUCTIONIST.