Jobs lost in September: 263,000; Unemployment up to 9.8 Percent

By October 2, 2009Technology

From the Bureau of Labor Statistics news release:

Nonfarm payroll employment continued to decline in September (-263,000), and the unemployment rate (9.8 percent) continued to trend up, the U.S. Bureau of Labor Statistics reported today. The largest job losses were in construction, manufacturing, retail trade, and government. Household Survey Data Since the start of the recession in December 2007, the number of unemployed persons has increased by 7.6 million to 15.1 million, and the unemployment rate has doubled to 9.8 percent.

Reuters reports, “Manufacturing employment fell by 51,000 in September, while construction industries payrolls dropped. The service-providing sector cut 147,000 workers in September, while goods-producing industries shed 116,000 positions.”

Both Steve Forbes on Fox News and Chris Low of FTN Financial on Bloomberg point to the problems small business is facing because of the lack of credit.

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