Fears of a double-dip recession have been mitigated by recent employment data. For instance, the number of job losses reported for August 2010 fell to 54000—the minimum over the past three months. Euronews attributes the increase in the unemployment rate from 9.5% in June and July 2010 to 9.6% in August to an increase in the labor force, that is, previously discouraged workers are now seeking jobs.
The report also points out that the employment rate in the private sector, which is a better way of assessing the performance of the labor market has increased by 67000. On the other hand, the revised payrolls for the government sector indicate that there are actually 123000 fewer jobs that have been lost.
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