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September 3, 2010
Here's the relatively good news just posted by the U.S. Department of Labor:
Nonfarm payroll employment changed little -- down just 54,000 jobs in August, and the unemployment rate was about unchanged at 9.6 percent.
Because of the end of many Census jobs, government employment fell by 114,000. But private-sector payroll employment continued to trend up modestly, adding a net 67,000, the government reported.
The August report also revised earlier numbers from June and July. Initially, a combined job loss of 351,000 had been reported. Revised, the loss was reduced to 229,000.
Job gains were reported in the health care and construction sectors. But jobs fell by 27,000 in manufacturing.
Hours on the job were unchanged. Average hourly earnings were up by just 0.3 percent.
The still-disturbing number: 14.9 million workers are unemployed and looking for work, and about 6.2 million of them have been jobless for six months or more.
President Barack Obama was scheduled to make a speech about the economy later this morning.
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