U.S. Economy Lost 54,000 Jobs in August; Jobless Rate Rose to 9.6%
The 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.
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.
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