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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: TideGlider who wrote (92510)	10/8/2010 10:55:53 AM
From: Bill	3 Recommendations Read Replies (1) \| Respond to of 224718

The poignancy of the great philosophers lives for eternity. -g-

To: TideGlider who wrote (92510)	10/8/2010 10:56:32 AM
From: tonto	3 Recommendations Respond to of 224718

The U.S. economy unexpectedly shed jobs in September for a fourth straight month as government payrolls fell and private hiring was less than expected, hardening expectations of further Federal Reserve action to spur the recovery. Nonfarm payrolls dropped 95,000, the Labor Department said on Friday. Private employment, a better gauge of labor market health, increased 64,000 after rising 93,000 in August. A total of 77,000 temporary jobs for the decennial census were terminated last month. Analysts polled by Reuters had expected overall payrolls would be unchanged, with private-sector hiring gaining 75,000. The government revised data for July and August to show 15,000 more jobs lost that previously reported. It also said its preliminary benchmark revision estimate indicated employment in the 12 months to March had been overstated by 366,000. The unemployment rate was unchanged at 9.6 percent in August. In the wake of dovish speeches by senior Fed officials, including Chairman Ben Bernanke, analysts believe it now almost certain the U.S. central bank will launch a second round of asset purchases—with any expecting a move in November. "They may delay it till December, but the odds favor we get something,'' said Michael Strauss chief economist at Commonfund in Wilton, Connecticut. Expectations the Fed, which has already pumped $1.7 trillion into the economy by buying mortgage-related and government bonds, would announce a second phase of quantitative easing at its Nov. 2-3 meeting have buoyed U.S. stocks and prices for shorter-dated government debt and have undercut the dollar. The employment report is last before the Nov. 2 mid-term elections in which President Barack Obama's Democratic Party is expected to suffer large losses amid voter dissatisfaction with the economy. Opinion polls suggest Republicans will take control of the U.S. House of Representatives, which may give them a platform to pursue their agenda of restricting government spending to reduce a record budget deficit.