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Unemployment up to 9.6 percent in August - Trade Only Today

Unemployment up to 9.6 percent in August

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The unemployment rate increased to 9.6 percent in August, up from 9.5 percent in July, the U.S. Bureau of Labor Statistics reported today.

The report says the private sector added 67,000 jobs last month while government employment fell as 114,000 temporary workers hired for the census completed their work.

From May through August, the jobless rate remained in the range of 9.5 to 9.7 percent.

The number of people employed part time for economic reasons increased by 331,000 during the month, to 8.9 million. These people were working part time because their hours had been cut back or because they were unable to find a full-time job.

About 2.4 million people were marginally attached to the labor force in August, little changed from a year earlier. These people were not in the labor force, wanted work and were available for it, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the four weeks preceding the survey.

Click here for the full report.

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