Employment Situation Report: -54K Total Job Losses. Private Sector Adds 67k Positions. Bonds Sell
September 3, 2010 – 4:30 amPosted To: MBS Commentary
THE EMPLOYMENT SITUATION – AUGUST 2010 – BETTER THAN EXPECTED From the Release… Nonfarm payroll employment changed little (-54,000) in August, and the unemployment rate was about unchanged at 9.6 percent, the U.S. Bureau of Labor Statistics reported today. Government employment fell, as 114,000 temporary workers hired for the decennial census completed their work. Private-sector payroll employment continued to trend up modestly (+67,000). The number of unemployed persons (14.9 million) and the unemployment rate (9.6 percent) were little changed in August. From May through August, the jobless rate remained in the range of 9.5 to 9.7 percent. The number of long-term unemployed (those jobless for 27 weeks and over) declined by 323,000 over the month to 6.2 million . In August, 42…(read more)