« | »

AP: 95K Jobs Lost ‘Due To Govt Layoffs’

From a desperately spinning Associated Press:

Economy loses 95K jobs due to government layoffs

By Christopher S. Rugaber, AP Economics Writer
October 8, 2010

WASHINGTON – A wave of government layoffs in September outpaced weak hiring in the private sector, pushing down the nation’s payrolls by a net total of 95,000 jobs.

The unemployment rate held at 9.6 percent last month, the Labor Department said Friday. The jobless rate has now topped 9.5 percent for 14 straight months, the longest stretch since the 1930s.

But don’t worry. Prosperity is just around the corner. Or is it ‘austerity’?

The report is the final one before the November elections, which means members of Congress will face voters next month with an economy that is struggling to create jobs. The private sector added 64,000 jobs, the weakest showing since June.

A net total of 159,000 government jobs were lost in September. Local governments cut 76,000 jobs last month, most of them teachers. That’s the largest cut by local governments in 28 years

By the way, here is how Reuters first reported this news:

Economy sheds 95,000 jobs

Reuters – 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…

They even included the patented "unexpectedly." However, this article was quickly re-written to read:

Payrolls fall, Fed monetary easing seen imminent

By Lucia Mutikani
October 8, 2010

WASHINGTON (Reuters) – The U.S. economy shed jobs in September for a fourth straight month as government payrolls fell and private hiring slowed, hardening expectations for more stimulus from the Federal Reserve to spur the recovery…

We must not sound too critical of the glorious Obama recovery.

This article was posted by Steve on Friday, October 8th, 2010. Comments are currently closed.

4 Responses to “AP: 95K Jobs Lost ‘Due To Govt Layoffs’”

  1. Petronius says:

    Yes, always expect the unexpected.

    Gold unexpectedly went up again today.

    NY spot : $1347.30

    Like it does almost every day these days.

    Big wheel keep on turnin’
    Proud Mary keep on burnin’
    Rollin’, rollin’, rollin’ on the river.

    I don’t like to think of it as betting against the U.S. dollar.

    Which has hit an all-time low against the Swiss franc and Australian dollar. And a 15-year low against the yen. And an 8-month low against the puny euro.

    Instead, I prefer to think of it as shorting Nerobama and his Bolshevik robber gangs.

    The price of gold is an ethical barometer that measures Nerobama’s criminal mismanagement of our economic, fiscal, and monetary systems.

    Nerobama declares there will be a time for profits, but now is not that time.

    The price of gold goes up.

    Nerobama seizes control of the U.S. auto industry from bondholders using public funds, and turns it over to the UAW union, creating more public debt.

    The price of gold goes up.

    Democrats in Congress steal $800 billion in a massive raid on the U.S. Treasury and call it a “stimulus,” creating a mountain of public debt.

    The price of gold goes up.

    Democrats pass Obamacare through bribery and corruption, seizing hold of the U.S. medical industry and generating even more debt.

    The price of gold goes up.

    Fed announces more quantitative easing will be needed to deal with the growing public debt.

    The price of gold goes up.

    September unemployment report issued, spurring more QE.

    The price of gold goes up.

    It’s not rocket science.

    Gold is in the early stages of performing its historic role of restoring order to Liberal chaos.

  2. mr_bill says:

    I wonder how long it will be before an obama insider admits that these numbers were wholly made up to influence the elections. We all know its true, I just want somebody from the professional left to admit it.

  3. U NO HOO says:

    Lay off some more teachers, less dues to contribute to Obama.

  4. Liberals Demise says:

    Here’s a little sumptin’ that may have been missed. Sheriff Joe said that the Stimulus Plan didn’t go off too well because they didn’t spend enough money.
    Sweet Jesus….this dude is a blithering, incompetent fool! And he’s one chair away from being in the Oval Office.
    Doesn’t look good for us if Barry bites it.

« Front Page | To Top
« | »