It is a sign of how desperate investors are for good news on the economy that they would take this weak jobs report for August as a good sign.Overall, payrolls dropped "only" 54,000 - less than expected. That includes the loss of 114,000 census jobs. Non farm payroll jumped by 67,000 - about half of what is needed every month to employ those entering the job market. Also, numbers for June and July were revised upward.Reuters: The decline in payrolls was about half as large as expected. Analysts polled by Reuters had forecast overall employment falling 100,000 and private-sector hiring increasing 41,000.The smaller-than-expected job losses last month could assuage fears the economy is sliding back into recession and ease pressure on the Fed -- the U.S. central bank -- to launch a fresh round of bond buying to keep borrowing costs low.However, the report will do little to help the Democratic Party in November's crucial mid-term elections.Concerns of a double-dip recession had...(Read Full Post)