Saturday, September 11, 2010

August unemployment rate flat

The US national unemployment rate was unchanged to 9.6% in August due to a small increase in private sector jobs and a drop in government census employment. Total non farm payrolls drop by -54,000 jobs. Government employment dropped by -114,000 due to census bureau layoffs and private sector employment added 67,000 jobs.

Here are the key stats from the household data report:

The basic unemployment rate was flat at 9.6%.

The black unemployment rate jumped to 16.3% from 15.6% in July. The Black teenage unemployment rate was an astounding 45% versus 24% for whites.

U-6, the true underemployment and unemployment rate also moved up from 16.5% to 16.7%.

In the company and government side of the employment report (establishment data), manufacturing dropped -27,000 jobs, construction added 19,000 and healthcare added 40,000.

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