The flagging economy failed to make a dent in the unemployment rate in September, while nonfarm payrolls, which were heavily influenced by a drop in permanent local government jobs and the continuing loss of temporary 2010 census jobs, fell by 95,000.
The private sector did manage to create 64,000 jobs, well above the ADP report released on Wednesday which reflected a loss of 39,000.
Still, the slowdown in economic activity is being reflected by the near lack of job creation. More worrisome, nonfarm payrolls have fallen for four-consecutive months, as private companies have been unable to offset the loss in government jobs.
And private sector employment has slowed over the past two months.
A robust recovery will cure what ails the job market, but fiscal policy is being held hostage by the federal deficit and the Federal Reserve is running out of options.
Details and a more formal look at today’s report are available at Examiner.
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