According to a report by the U.S. Bureau of Labor Statistics, Non-Farm payroll employment edged up by 103,000 in September, and the unemployment rate held steady at 9.1%. However, 45,000 of those jobs reflected telecommunications workers that went on strike since August.
Based on the return of the workers on strike, real job growth was actually 58,000, a relatively small figure given the size of the economy. At this rate, it would take over 11 years to make up the approximately 8 Million jobs that were lost when the economy went into a virtual free fall in September of 2008.
What are the bright spots, hiring wise in the economy? Health care, which added 44,000 jobs. A surprise could be considered an increase in construction employment, which added 26,000 jobs over the month, due to increases in heavy and civil construction, as well as mining.
The debate continues over what can accelerate the jobs picture in the United States, with the president’s jobs bill being debated whether it will help create jobs or be an expensive, ineffective government stimulus.
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