U.S. Unemployment Rate Rises to 9.7%

The latest report by the Labor Department indicates that the United States unemployment rate in August rose to 9.7%. That is the highest the unemployment rate has been since 1983 when it was higher than 10%. While the percentage increase appears negative on paper, there were some positive signs in the Labor Department report.
Experts estimated that 225,000 jobs would be lost in August. As it turns out, there were only 216,000 job losses. The slowing down of the job losses is a positive sign in terms of the economy stabilizing in the U.S. In fact, this quarter is expected to …read more