Rise In Unemployment As Economy Sheds More Jobs
By: Kara Gilmour
Published: Sep 6, 2010
Rise in unemployment prompts Labor Department to react as more jobs are lost from a bad economy.
Rise in unemployment as economy sheds more jobs. The unemployment rate rises from 9.5 percent to 9.6 percent in a bad economy. The rise marks the second consecutive month as 54,000 jobs more jobs are lost.
Unemployment is nothing new to this economy, but the Obama administration plans to address the problem on Labor Day. According to the Bureau of Labor Statistics, the U.S. economy shed 54,000 jobs in August. This marks the second consecutive month as the employment recovery eroded.
The economy lost 131,000 jobs a month ago, but the unemployment rate remained intact at that time. The Labor Department report looks to paint the labor market as stagnant, rather than crumbling. "The unemployment rate was about unchanged," the report says. Later, it says the rate was "little changed."
There were ups and downs among various industries. Healthcare added 28,000 jobs and mining added 8,000. Manufacturing lost 27,000 and temporary jobs in professional services rose by 17,000. In construction, 19,000 jobs were added, but 10,000 of those involved workers returning from a July strike.