When is bad news, good news? Apparently when it comes to U.S. Employment as reported in the Labor Department’s stats for August – a loss of 54,000 jobs was better than expected and this number included the 121,000 temporary Census workers whose employment ended in August.
With the private sector adding 67,000 jobs, a big upward revision to June and July of an additional 123,000 workers and a result that beat economists expectation, this report was seen as positive by the markets.
The Securities Industry experience a slight weakening in hiring during August with the group losing just over 1,000 jobs.
However, this level is about 10,000 jobs higher than the low point experienced in March of this year.