Friday, October 7, 2011

US lost 13,000 manufacturing jobs in Sept. 2011, 2nd monthly drop

.
Total unemployed increased to 16.5 million

10/7/11, "Job Creation Posts Jump, But Rate Still Steady at 9.1%," CNBC, Jeff Cox

"The manufacturing sector shed 13,000 jobs, posting a drop for the second month in a row. But the household survey, which is a more methodical count that doesn't utilize estimations in the way the larger survey does, showed a net job creation of 137,000.

The level of unemployed people remained unchanged, though, at 14 million.

The more encompassing unemployment rate, which includes those out of work but not actively looking for employment,

  • jumped to 16.5 percent.

As governments continue to grapple with deficit problems, public sector cuts are weighing on the jobs picture....

Still, the report remained consistent with an economy that is treading water and unlikely to be able to lower the unemployment report substantially."...

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Manufacturing jobs, 1991-2011, chart from Bloomberg via Zero Hedge

10/7/11, BLS, "Employment Situation Summary," US Dept. of Labor



via Drudge

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