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Unemployment rate rises to 26-year high

Grim17

Grim17

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Unemployment rate rises to 26-year high


WASHINGTON (Reuters) – U.S. employers cut a fewer-than-expected 216,000 jobs in August, while the unemployment rate rose to a 26-year high, the government said on Friday in a report showing a still fragile labor market.

The Labor Department said the unemployment rate rose to 9.7 percent after dipping to 9.4 percent in July and the decline in payrolls was the smallest in a year. The department revised job losses for June and July to show 49,000 more jobs lost than previously reported.

Analysts had expected non-farm payrolls to drop 225,000 in August and the unemployment rate to rise to 9.5 percent.

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And just when everyone was celebrating the 0.1% dip last month.

Well, at least less jobs were cut than expected.

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and whos to blame may be I dont know OBAMA:lol:
 
75Greeno said:
and whos to blame may be I dont know OBAMA:lol:
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You can't blame Obama for this, because it's part of the recession... But you can blame him for promising the American people that his stimulus package would fix it, when it quite clearly did not.
 
Grim17 said:
You can't blame Obama for this, because it's part of the recession... But you can blame him for promising the American people that his stimulus package would fix it, when it quite clearly did not.
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fair enough
 
Cant blame Obama or anyone for this.. it is the way the US figures out its unemployment rate. And the real unemployment rate is 16.8%.
 
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