Unemployment ticks up to 9.6 Percent; Manufacturing Down 27,000

By September 3, 2010Economy

The Burea of Labor Statistics has just released the employment situation report for August, 2010, with the unemployment rate “about unchanged” at 9.6 percent, up from 9.5 percent. Kind of folksy, that “about unchanged.”

Top line:

  • Nonfarm payroll employment changed little (-54,000) in August, and the unemployment rate was about unchanged at 9.6 percent, the U.S. Bureau of Labor Statistics reported today. Government employment fell, as 114,000 temporary workers hired for the decennial census completed their work. Private-sector payroll employment continued to trend up modestly (+67,000).

Manufacturing:

  • Manufacturing employment declined by 27,000 over the month. A decline in motor vehicles and parts (-22,000) offset a gain of similar magnitude in July as the industry departed somewhat from its usual layoff and recall pattern for annual
    retooling.

Associated Press summarizes: “WASHINGTON — 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.”

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