Jobs Report Surprises To the Upside
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For the first time in four months, the unemployment rate rose in August as sluggish hiring by private employers was not enough to offset a drop in government positions and an increase in the number of workers looking for employment.
The Labor Department reported on Friday that nonfarm payroll in August was down 54,000, as 114,000 temporary census jobs were ended and state and local governments cut 10,000 positions. Economists had been looking for a loss of 105,000 jobs.
The report showed that the private sector added a net total of 67,000 new jobs last month, higher than the economist estimate do a rise of 40,000 jobs.
The reading for June and July were both revised to the more jobs created in the private sector. In July, companies created 107,000 jobs compared to a prior view of 71,000, following a revised increase of 61,000 jobs in June, which had been previously reported as an increase of 31,000.
The unemployment rate rose to 9.6 percent in August from 9.5 percent as more than a half-million U.S. workers continued their search for employment last month. The reading was in line with the economist estimate.
Temporary positions increased nearly 17,000 last month, following a drop in the positions in July.
The jobs market has been a weight on the economic recovery that has taken a sluggish turn in recent month.
The Labor Department reported on Friday that nonfarm payroll in August was down 54,000, as 114,000 temporary census jobs were ended and state and local governments cut 10,000 positions. Economists had been looking for a loss of 105,000 jobs.
The report showed that the private sector added a net total of 67,000 new jobs last month, higher than the economist estimate do a rise of 40,000 jobs.
The reading for June and July were both revised to the more jobs created in the private sector. In July, companies created 107,000 jobs compared to a prior view of 71,000, following a revised increase of 61,000 jobs in June, which had been previously reported as an increase of 31,000.
The unemployment rate rose to 9.6 percent in August from 9.5 percent as more than a half-million U.S. workers continued their search for employment last month. The reading was in line with the economist estimate.
Temporary positions increased nearly 17,000 last month, following a drop in the positions in July.
The jobs market has been a weight on the economic recovery that has taken a sluggish turn in recent month.
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