U.S. Economy Loses Jobs, Unemployment Holds At 9.6%

“The Labor Department printed another negative number in its September nonfarm payrolls report Friday morning, reporting a loss of 95,000 jobs. The bulk of the job losses came from the government sector as private sector payrolls showed a moderate increase and the unemployment rate held steady at 9.6%.

“The loss of 159,000 government jobs was split almost evenly between the end of temporary census jobs and cuts at the state and local levels. Private sector payrolls added 64,000 jobs, with the best increase coming in the health care sector (+24,000) and other gains seen in services sectors. Construction payrolls shed 21,000 jobs, offsetting an increase in August, and have been mostly flat since February.”

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