private sector

The outlook for the U.S. job market remains cloudy, as private sector payrolls expanded in February at the same time that layoffs grew as well, according to two reports released Wednesday.

Private sector payrolls soared in December while downsizing sank, two separate reports showed Wednesday in a strong indication of a brightening U.S. jobs picture.

U.S. companies modestly added jobs in August, easing concerns that the nation might slip back into a recession.

The latest jobs report released by the Labor Department today showed employment in the private sector rose by 67,000 payrolls, after a revised 107,000 increase in July that was more than originally estimated.

While the private sector slashed more jobs than expected in August, overall employers aren't planning as many cuts for the future, two separate reports showed Wednesday.

The latest jobs report shows the economy lost more jobs than expected and added fewer. Only about 71,000 jobs were created in the private sector last month.

Meanwhile, 143,000 temporary census workers were let go. And state and local governments slashed 48,000 jobs in July.

Stacey Vanek-Smith reports.

Two employment reports released early Wednesday gave a mixed picture two days ahead of the government's monthly figures.

Unemployment checks provide Americans with income when the private sector cannot -- and people who receive benefits spend the money right away, stimulating the economy.

Fed chairman Ben Bernanke said that private sector demand will be "sufficient" to spur a moderate economic recovery in coming months, but he added that more time is needed to recover job losses.

As Michigan's economy worsened last year, Michael Hester decided it was time to leave the private sector to work in the prison system, figuring a state job as a corrections officer would be more stable.

Proposed legislation would provide more federal loans to students and largely cut the private sector out of the lucrative market.