U.S. Economy Sheds 95,000 Jobs in September

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

The private sector added 64,000 jobs, the weakest showing since June.

Local governments cut 76,000 jobs last month, most of them in education. That's the largest cut by local governments in 28 years. And, 77,000 temporary census jobs ended in September.

Nearly 14.8 million people were unemployed last month. That's almost 100,000 fewer than in August.

The report is the final one before the November elections, which means members of Congress will face voters next month with a jobless rate near double digits.

The weak job market also makes it more likely that the Federal Reserve will take additional steps to boost the economy. Most economists expect the Fed to decide at its meeting next month to buy government debt in an effort to lower interest rates and spur more borrowing.

Employers, faced with slow sales and a weak economy, see little reason to add to their workforces. The economy expanded at a feeble 1.7 percent annual rate in the April-June quarter. Most analysts think the economy will fare little better for the rest of this year.

Since the recession ended in June 2009, the economy has grown 3 percent, according to economists at Deutsche Bank. That's less than half the average 6.5 percent pace in postwar recoveries.

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bassmstr1971

I love the last paragraph stating that douche bank estimates that the economy grew 3 percent. Based on what info or just a way of misguiding the public to think things are getting better. It's only going to get worse. Especially if your a home owner. Foreclosures are not going away. I'm a Mailman and i see a huge turnover in the community i deliver to and live in. We've got a few more years to go.

October 10 2010 at 4:53 PM Report abuse +2 rate up rate down Reply
bdyman101

# America’s Job-Creation Engine Remains Stalled # A Cruel September for Private Sector Jobs, With 39,000 Cut # Consumer Confidence Plunges in September on Job Market Concerns # Economy Loses 95,000 Jobs but Markets Open Higher # US Private Sector Cuts 39,000 Jobs wow such a good job of taxing the rich and giving to the poor barak robinhood obama i have to laugh so hard at the socialist democrates,,,they are so smart they make a box of rocks look intelligent...

October 10 2010 at 4:46 PM Report abuse +1 rate up rate down Reply
bdyman101

# America’s Job-Creation Engine Remains Stalled.....what did the liberal democrat's honestly think would happen,when they decide to tax employers more then they already pay...how do you grow jobs when your going to give 95 % of the profit to the government to redistribute to the poor...lol u were smart and look to your future and retirement and created a business, the poor just sat there complaining of how much the business owner makes...lol i bet if the liberal democrate socialist would move to a communist country they would move right back and change their ideas of government...i bet if obama leaves and a conservative get to file his position and doesnt tax the rich to death....the job-creation engine will take off running...

October 10 2010 at 4:36 PM Report abuse +1 rate up rate down Reply
Joyce

Everybody talks OBAMA this OBAMA that nobody says anything about the JACKASSES that were in there before this man. He can't fix everything that those funky ass bushes did overnight.Stop being a fool and let him jack it up too. YALL are the fools that elect these super fools to jack up society so just live with it.Every body says the same thing because this man is of a black descent so what he can't any worse then they did all these decades. Please before any of you post anything learn to spell. It's called EDUCATION people.

October 10 2010 at 2:41 PM Report abuse -3 rate up rate down Reply
bdyman101

it is funny the liberal communist demoncrats have done nothing buy lie and deceive the people and now they are back peddling and pointing fingers at their own party associate's. its funny to sit back and watch how corrupt these people are and how stupid they think people are. if they honestly want to help the country they should read the history books of the world. and stop trying to impose socialism on free people.didn't all our ancestors come here to get away from everything the "democrat liberal socialist communist" in government are trying to shove down the American throat????.....these people want the money power and fame. Be the kings and queens as we the people serve them..they forget ..Government OF THE PEOPLE, FOR THE PEOPLE ,BY THE PEOPLE" .so they want to change the constitution and bill of right,so they can dictate and rule the greatest country in history. The easiest way to rule the masses it to break them of their power and finances....crash the stock market,destroy jobs and marketing, foreclose the property,give them welfare,free health care to destroy and eradicate older generations and cover history. Those who forget their history are doomed to repeat it...Obama-nation for all. After all didn't he and his wife say they wanted to destroy America? and didn't the democrat's sign in NAFTA,and send all our jobs out of our country...??? think people!!!!!!

October 10 2010 at 1:07 PM Report abuse rate up rate down Reply
1 reply to bdyman101's comment
bassmstr1971

Does anyone remember who was in charge when everything started getting bad. I'm going back to the beginning of the 2 wars til 2008. The Dems took power in 2006 during midterm elections. Does anyone really believe all will be well if the republicans regain power in the senate? I think we are screwed no matter who is in power. Instead of Bitching about something everyone already knows. We need to find a way as the People of America to turn things around. We need independant thinkers in office to make things right. Not PARTISAN THINKERS WHO ARE AFRAID TO GO OUTSIDE THE PARTY MAJORITY. I don't know and who really does have an answer to our problems as a whole. Not any current politicians who are in office or running for office. VIVA LA REVOLUCION!!!

October 10 2010 at 5:14 PM Report abuse rate up rate down Reply
bdyman101

the only way the economy will come back is if America gets ride of obama and the liberal communist in government.the reason the economy crashed is obama wants to take the money from the rich or business owners. to give to the poeple who sat around drinking and drugging when they should have been learning and thinking of their future...he wants to play Robbin hood.lol but Robbin hood took from the government and gave back to the people, he didn't take from the people to give to government....lol with out business owners the poor have no jobs...so they get welfare which is supported by the business owners and tax payers...the stock market crashed because obama said he was going to tax the people who made big money so they stopped making money pulled out and the placed crashed. look at russia. same scenario the rich left the country...Americans need to buy bulk "Black Flag" head to white house and get rid of the communist socialist liberal pest that plague this country and get back to the constitution and bill of rights set forth to protect this country from infestation.

October 10 2010 at 12:33 PM Report abuse +1 rate up rate down Reply
1 reply to bdyman101's comment
bassmstr1971

Whats with all the Adjectives? Communist socialist liberal. You've been listening to too much Rush!!! It's time to shut off thhe radio and think for yourself!!! I mean Robinhood. Come on. Did you really compare Obama to Robinhood? The rich keep Bitchin while the middle class keeps making the rich richer. It's time the Rich start paying.

October 10 2010 at 5:01 PM Report abuse -1 rate up rate down Reply
themaskctf

Sorry about the duplication...lag spike

October 10 2010 at 12:40 AM Report abuse rate up rate down Reply
themaskctf

How about you guys reporting the REAL report, not the Labor Department's fluff that is whatever Obama says it is? Gallup poll shows on Wednesday that unemployment is 10.1% if you use the REAL figures!

October 10 2010 at 12:40 AM Report abuse rate up rate down Reply
themaskctf

How about you guys reporting the REAL report, not the Labor Department's fluff that is whatever Obama says it is? Gallup poll shows on Wednesday that unemployment is 10.1% if you use the REAL figures!

October 10 2010 at 12:40 AM Report abuse +2 rate up rate down Reply
rskillsta

Bad news like this will only make the impeachment hearing next year sweeter.

October 09 2010 at 10:29 PM Report abuse +4 rate up rate down Reply
1 reply to rskillsta's comment
jkennedy806

that's good

October 10 2010 at 5:36 PM Report abuse +1 rate up rate down Reply