Disappointing Report Shows More Job Cuts

By Toni Vranjes

October 8, 2010

Millions of American job seekers are looking for encouragement from any place they can – but they won’t find much good news in the latest employment report.

Last month the U.S. economy lost 95,000 jobs, a number that was worse than economists had predicted. And the nation is still reeling from high unemployment, with the jobless rate holding at 9.6 percent.

In September, the government shed jobs at all levels. Layoffs of federal Census workers continued, and employment in state and local governments also dropped.

Meanwhile, the private sector created 64,000 jobs, according to the Labor Department. Although that’s a gain, it’s still a relatively weak number.

Another important measure — the “underemployment rate” — jumped from 16.7 percent in August to 17.1 percent in September. That measure includes part-time workers who would prefer full-time jobs, as well as people who have dropped out of the labor force.

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