Private Hiring "Unexpectedly" Good In August

The secret to success in the age of Obama is to lower your expectations. Only 54,000 new private jobs exceeds expectations? We need to create jobs at ten times that rate.

U.S. employment fell for a third straight month in August, but the decline was far less than expected and private payrolls growth surprised on the upside, easing pressure on the Federal Reserve to prop up growth.

Nonfarm payrolls fell 54,000, the Labor Department said on Friday as temporary jobs to conduct the decennial dropped by 114,000.

Private employment, considered a better gauge of labor market health, increased 67,000 after a revised 107,000 gain in July. In addition, the government revised payrolls for June and July to show 123,000 fewer jobs lost than previously reported.