Employers eliminated a total of 216,000 jobs, the lowest in a year
WASHINGTON - The unemployment rate jumped almost half a point to 9.7 percent in August, the highest since 1983, reflecting a poor job market that will make it hard for the economy to begin a sustained recovery.
While the jobless rate rose more than expected, the economy shed a net total of 216,000 jobs, less than July’s revised 276,000 and the fewest monthly losses in a year, according to Labor Department data released Friday. Economists expected the unemployment rate to rise to 9.5 percent from July’s 9.4 percent and job reductions to total 225,000.
By contrast, in a healthy economy, employers need to add a net total of around 125,000 jobs a month just to keep the unemployment rate stable.
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4 comments:
That number means nothing, count the true people un-employed and tell the truth.
Yup, He said it during the campaign.
"Real change you can believe in"
That's for sure.
It's because dumb parents, just like in this area, don't want the President to lead our future. I don't blame companies to not hire these idiots.
I believe the number is much higher than what is reported. I also believe that we are now in the second great depression. I think things are much worse than what the media has reported. Ask anyone out there looking for a job, and they will tell you just how bad things really are! I would like for once to have the media really tell us the truth!
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