U.S. companies added 64,000 jobs during the month, lower than the projected increase of 75,000. Estimates of economists polled by TheStreet ranged from 60,000 to 100,000.
The government shed 159,000 jobs, reflecting the loss of temporary jobs related to the census and job losses in local government. Economists were expecting more job losses at the local government level as state governments battle heavy deficits and cut education costs.
Since Jan 2009 when the country was losing 787,000 jobs a month, we have now come to ten straight months of private sector growth. But over that span the size of government has actually shrunk. Every month for the past few months, total job numbers have been slightly negative - because of the loss of government jobs (and the overall reduction of goverment at the combined federal, state and local levels).
Meanwhile, majority in the country continues to believe that big government is the problem with our eeconomy. Reduce the size of government and growth will return is the belief contrary to the reality of our shrinking government.