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US unemployment reaches 9.7 in August

US unemployment reaches 9.7 in August

In August, the US economy lost 216,000, the fewer monthly number in a year according to the US Bureau of Labor Statistics.  The unemployment rate rose to 9.7% from 9.4% in July, 0.2% more than expected.  The current unemployment rate is the highest since 1983.  The total number of job losses has accounted for 6.9 million since December 2007 when the recession started. 

Average hourly earnings rose to $18.65 in August from $18.59 in July.  Average working weekly hours remained the same at 33.1, slightly above the number from June.

Job losses were in sectors including the construction 65,000, manufacturing- 63,000, financial- 28,000, professional and business services- 22,000, and government- 18,000.  Education and health services added the total of 52,000 jobs.

SF Examiner- 9/4/2009