In a momentary reversal of the recessionary trend, government shed jobs during August while the private sector posted minimal employment gains.
The result was a net loss of 54,000 positions – which was attributable in large part to the scheduled termination of over 100,000 temporary U.S. Census positions. As a result, the nation’s unemployment rate increased to 9.6 percent in August – up a tenth of a percent from the previous month. Meanwhile the “underemployment” rate – which includes eligible workers who have grown so depressed with the job market that they have given up searching for work – increased from 16.5 to 16.7 percent.
Also, the total number of unemployed people rose from 14.59 million in July to 14.86 million last month.
Obviously, government isn’t hurting – nor is the private sector “recovering.” Since the recession began in December 2007, the private sector has shed more than 8 million jobs, while the federal government alone has added more than 200,000 jobs.
That’s a trend we’re seeing at work in the Palmetto state, too. Private sector job losses in South Carolina total well over 130,000 since the recession began in December 2007, while the public sector has seen its taxpayer-funded payrolls swell by nearly 25,000 positions over that same time period.