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Job Growth Halted in August, Labor Dept. Says

1 min read
Labor Dept. image

New job numbers released Friday by the Labor Department show job growth remained unchanged in August, with the unemployment rate holding at 9.1 percent.

The new report says the number of those unemployed for 27 weeks and over was unchanged at 6 million in August and accounted for 42.9 percent of the unemployed.

According to Reuters, the new report could keep pressure on the Federal Reserve to provide more stimulus to aid the economy.

The new report showed revised numbers for nonfarm employment in June and July, showing 58,000 fewer jobs.

The average workweek dropped to 34.2 hours in August, the fewest since January, from 34.3 hours. Average hourly earnings fell three cents.

Click here to view the full report.

 

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