Unemployment Up, But Duration of Unemployment Down
Posted on | September 4, 2009 | No Comments
According to the Labor Department’s monthly jobs report released today, the unemployment rate skipped 0.3% to land at 9.7%. There were no real surprises. Construction and manufacturing were the biggest job losers, losing 65,000 and 63,000 jobs, respectively. Healthcare led the job gainers, adding 28,000 jobs in August, mostly in ambulatory care, nursing and residential care. Unemployment rates rose for all groups, except Black teens. Unemployment rose 0.3% for those with college degrees or higher. The only bright spot in the report was that the duration of unemployment decreased 0.2% to 24.9 weeks.
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