Survey: Economy lost jobs in August
Hundreds of Long Islanders seeking jobs attended a job fair in East Meadow in August. Credit: Danielle Finkelstein
The federal jobs report for August is due out Friday, and some economists see continuing losses, which would no doubt raise the specter of a double-dip recession.
The national economy is expected show a an overall loss of 103,000 jobs in August, according to a Bloomberg News survey of economists. That would be down from the 131,000 nonfarm-job decline in July, mostly because of Census worker layoffs.
The economists predict that the private sector continued to post modest gains but fewer than in July. They predict that the private sector added 40,000 jobs in August, compared with 71,000 in July.
The Long Island job market has been growing modestly since April. In July, it had 8,600 more jobs than it did in July 2010, according to state Labor Department data. Above, hundreds turned out for a job fair in East Meadow last month.
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