Unemployment rate rises to 9.7 percent in August
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PrintEmployment fell by 216,000 and the unemployment rate rose to 9.7 percent in August 2009, according to a Bureau of Labor statistics report. The report states that job losses have moderated in many industry sectors in recent months, however, since the recession began in December 2007, employment has dropped by 6.9 million, and the unemployment rate has increased by 4.8 percentage points.
Employment fell by 216,000 and the unemployment rate rose to 9.7 percent in August 2009, according to a Bureau of Labor statistics report. The report states that job losses have moderated in many industry sectors in recent months, however, since the recession began in December 2007, employment has dropped by 6.9 million, and the unemployment rate has increased by 4.8 percentage points.
Analyzing the employment breakdown within broad sectors, the BLS reports that construction employment fell by 65,000 in August, about in line with the trend since May. From November 2008 to April 2009, construction job losses averaged 117,000 per month. Since December 2007, employment in the industry has fallen by 1.4 million. Thus far in 2009, job losses in nonresidential and heavy construction combined have exceeded losses in the residential components. In 2008, the residential components accounted for a majority of construction's decline, according to the BLS.
The BLS reports states that employment in manufacturing declined by 63,000 in August. The largest job losses were in motor vehicles and parts, computer and electronic products, and fabricated metal products. Factory employment has declined by 2.0 million since the start of the recession, although losses have moderated over the last 2 months.
In August, job losses also continued in financial activities and wholesale trade. The employment declines in both industries have been smaller since May.
Over the month, employment continued to increase in health care, with gains in ambulatory care and in nursing and residential care facilities, the BLS reported. Health care has continued to add jobs during the recession, albeit at a slower pace in 2009.
When the recession began in December 2007, the jobless rate was 4.9 percent. A total of 14.9 million persons were unemployed in August, about twice the number at the start of the recession. The number of long-term unemployed remained high.
In August, 5.0 million people had been jobless for more than 6 months, nearly quadruple the number at the start of the recession.
