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U.S. unemployment soars to 9.6% after economy loses 54,000 jobs
Posted By admin On September 3, 2010 @ 1:41 pm In Money Watch | Comments Disabled
Daily Mail 
Friday, September 3, 2010
The U.S. unemployment rate rose to 9.6 per cent in August, official figures released today have shown.
The data from the U.S. Labor Department showed the economy lost 54,000 jobs last month as the United States continues to struggle to recover from the recent global recession.
Economists had predicted even worse figures and despite the fact unemployment rose for the first time in four months, a number of experts described the news as ‘positive’.
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The unemployment figures are seen as a continual test of how successful President Barack Obama’s stimulus package and policies have been.
One apparent piece of good news was the private sector’s ability to create a better-than-expected 67,000 jobs in August.
The new jobs though were offset by the U.S. government having to release around 114,000 temporary workers.
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