The U.S. economy unexpectedly shed jobs in September for a fourth straight month as government payrolls fell and private hiring was less than expected, hardening expectations of further Federal Reserve action to spur the recovery.Why is it that every piece of economic news that comes out is "unexpected"? Given the direction that Obama and the Democrats are taking the country there's nothing unexpected about this news at all.
Nonfarm payrolls dropped 95,000, the Labor Department said on Friday. Private employment, a better gauge of labor market health, increased 64,000 after rising 93,000 in August. A total of 77,000 temporary jobs for the decennial census were terminated last month.
Analysts polled by Reuters had expected overall payrolls would be unchanged, with private-sector hiring gaining 75,000.
The government revised data for July and August to show 15,000 more jobs lost that previously reported. It also said its preliminary benchmark revision estimate indicated employment in the 12 months to March had been overstated by 366,000.
The unemployment rate was unchanged at 9.6 percent in August.
According to a Gallup survey this unemployment rate may be understated by as much as 1/2%. Gallup has the rate at 10.1%.
If the Democrats were seeing any kind of improvement in their polls lately that will soon disappear. They clearly don't know what they're doing and the voters are ready to replace them.
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2 comments:
"Unexpected" shows they are dumb, and the lap dog media is covering for them.
Yeah, it's rather silly to say unexpected at this point.
One of the things that they are doing though is a bit of slight of hand where they are trying to keep the public from seeing the revisions to past months. If people were to ruminate on that data they would see how bad the gov misses the mark in their reporting.
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