Unemployment falls slightly in August

The U.S. unemployment rate decreased to 7.3 percent in August from 7.4 percent in July as U.S. employers added 169,000 jobs, according to USA Today. Economists were expecting to add 180,000 jobs.

However, the drop in the unemployment rate reportedly resulted from 312,000 Americans who stopped working or looking for work.

Additionally, hiring growth in June and July was revised down. June's job growth was revised down to 172,000 from 188,000, and July's job growth was revised down to 104,000 from 162,000.

In August, the retail sector added 44,000 jobs; health care sector added 33,000 jobs; leisure and hospitality sector added 27,000 jobs; professional and business services sector added 23,000 jobs; and manufacturing sector added 14,000 jobs.

The construction, transportation and warehousing, financial activities and government sectors basically were unchanged.

There currently are 11.3 million unemployed people in the U.S.

Date : 9/6/2013


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