Homes in Ruby Hill

Saturday, September 4, 2010

August Unemployment Rate inches up to 9.6%

The private sector added 67,000 jobs in August, with some of the strongest gains in health care, food service and temporary help, according to the Labor Department. That was higher than consensus forecasts, and the government upwardly revised its numbers for June and July, suggesting that job creation was slightly stronger over the summer than originally reported.
But the continuing wind-down of the 2010 Census, as well as state and local government layoffs, led to an overall loss of 54,000 jobs in August.
With businesses adding about half the number of positions needed simply to accommodate population growth — much less dent the ranks of the jobless — the unemployment rate ticked up to 9.6 percent, from 9.5 percent.
From the New York Times

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