Envisioning Employment: Employment Situation August 2010

Today’s Employment Situation Report showed that net nonfarm payrolls declined 54,000 while private nonfarm payrolls added just 67,000 and the unemployment rate increased to 9.6%.

It's important to note that private sector jobs appear very weak increasing only .06% since last month (far slower than the rate of increase of the civilian workforce) and remaining a whopping 6.67% below the peak level of employment seen in December 2007 though, on a year-over-year basis, private jobs showed the first increase in 29 consecutive months.