- Jul 29, 2009
- Reaction score
- Southwestern U.S.
- Political Leaning
The unemployment rate went up a tick and we lost another 54,000 jobs. Thank god the "summer of recovery" is over.
Unemployment Rate Jumps to 9.6 Percent in August - CBS NewsUnemployment Rate Jumps to 9.6 Percent in August
(AP) The U.S. unemployment rate rose in August for the first time in four months as weak hiring by private employers wasn't enough to keep pace with a large increase in the number of people looking for work.
The Labor Department says companies added a net total 67,000 new jobs last month, down from July's upwardly revised total of 107,000. Wall Street analysts expected a smaller gain, according to Thomson Reuters.
Overall, the economy lost 54,000 jobs as 114,000 temporary census positions came to an end. State and local governments shed 10,000 positions. The jobless rate rose to 9.6 percent from 9.5 percent in July.