Unemployment rate increases in August

The U.S. unemployment rate rose from 9.5 percent in July to 9.6 percent in August as the economy lost 54,000 jobs, according to The New York Times.

Private employers added 67,000 jobs in August, which was down from July's revised total of 107,000 but still was more than the 41,000 jobs economists were expecting. July's numbers also were revised to reveal 54,000 lost jobs instead of the initially reported 131,000.

The construction sector gained 19,000 jobs in August, partially reflecting the return of 10,000 workers who were on strike in July. Additionally, the health care sector gained 28,000 jobs; mining sector gained 8,000 jobs; manufacturing sector lost 27,000 jobs; and government sector lost 121,000 jobs, largely because it lost 114,000 temporary Census Bureau workers.

There currently are 14.9 million unemployed workers in the U.S.

Date : 9/3/2010