Growth in private sector exceeds forecasts
Good news on the hiring front: Nonfarm payrolls fell less than expected, and private sector employment, which has gotten most of the attention lately due to distortions caused by the hiring and laying off of temporary 2010 Census workers, increased by a better-than-expected 67,000.
The unemployment rate ticked up from 9.5% in July to 9.6% in August, as the number of new hires was outpaced by growth in the labor force.
Overall, job growth remains anemic, but very modest hiring suggests that businesses do not believe the economy is about to stall.
Details are available at Examiner.
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