According to the government’s August report on unemployment, it is indicated that in the last quarter, the private job growth in the US was stronger than initially estimated. In August, private sector created 67,000 vacancies, which was more than the number of 41,000 economists had forecast.
But still, there is another overall loss of 54,000 jobs last month, mostly due to the loss of temporary Census Bureau jobs.
State and local governments, many of which are grappling with severe budget deficits, cut 10,000 jobs; while another 114,000 temporary Census positions were cut.
As a result, the unemployment rate rose from 9.5% to 9.6%.
Though the report continued to indicate that the pace of the recovery remains sluggish, it offered people some reassurance that the economy would not slip into a double-dip recession.