Private sector jobs are up! But that's not the whole story...(Read article summary)
New government report shows that private sector jobs are up, but public sector jobs nosedived, leading to a net loss of almost 100,000 jobs in September 2010.
Today’s Employment Situation Report showed that net nonfarm payrolls declined 95,000 while private nonfarm payrolls added just 64,000 and the unemployment rate stayed flat at 9.6%.
It's important to note that private sector jobs appear very weak increasing only .06% since last month (far slower than the rate of increase of the civilian workforce) and remaining a whopping 6.58% below the peak level of employment seen in December 2007 though, on a year-over-year basis, private jobs showed a second notable increase.
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