Economy loses 95K jobs due to government layoffs

The Associated Press: Economy loses 95K jobs due to government layoffs:
"Economy loses 95K jobs due to government layoffs
By CHRISTOPHER S. RUGABER (AP) – 2 hours ago
WASHINGTON — A wave of government layoffs in September outpaced weak hiring in the private sector, pushing down the nation's payrolls by a net total of 95,000 jobs.
The unemployment rate held at 9.6 percent last month, the Labor Department said Friday. The jobless rate has now topped 9.5 percent for 14 straight months, the longest stretch since the 1930s."

Oh yes, thats just what we need now. Uncle Sam to start laying off workers, as if the private sector wasn't 'trimming' things enough by themselves.

"Since the recession ended in June 2009, the economy has grown 3 percent, according to economists at Deutsche Bank. That's less than half the average 6.5 percent pace in postwar recoveries."


Pssst. Dear Economists, perhaps this data is a clue. The 'recession' has NOT ENDED. Things are still bleak, and with Uncle Sam booting out its workers too, the situation is only going to get bleaker. These talking-head experts should be the ones facing a pink slip, not hard working 'real work' performing employees.

"The department said the economy shed 15,000 more jobs in July and August than previously estimated.
The government also issued a preliminary estimate of its annual revision to the jobs data. The revision is made after examining unemployment insurance tax records. The department said the revision is likely to show the economy lost 366,000 more jobs that it previously thought in the 12 months ending in March 2010."

Oops, did we do a boo-boo with the government issued calculator? Thats a big number to fudge with, or were we perhaps, perchance, possibly just 'softening the blow' during the past year? I hope the mathematical genius that porked these numbers was one of the "Government layoffs", wouldn't that be ironic!