Payroll report: Nation loses 33,000 jobs in August

The decline was lead by a drop of 78,000 jobs among goods-producing companies -- the 21st consecutive monthly decline, according to payroll manager Automatic Data Processing Inc. The service sector, however, gained 45,000 jobs in August.

http://www.bizjournals.com/phoenix/stories/2008/09/01/daily39.html



Stocks plummet after retail, unemployment data

Wall Street dived sharply lower Thursday, sending the Dow Jones industrials down over 300 points as retailers and the Labor Department added to the mountain of dismal economic news that has all but dashed investors' hopes for a late-year recovery.

http://news.yahoo.com/s/ap/20080904/ap_on_bi_st_ma_re/wall_street


From Information Clearing House

--------

Unemployment at Five-Year High

Dean Baker, Truthout: "The labor market is as weak or weaker than at the worst points of the last recession. The unemployment rate jumped to 6.1 percent in August, the highest level since September of 2003. The establishment survey showed the economy losing another 84,000 jobs in August. With downward revisions to data for the prior two months, the economy has lost an average of 81,000 jobs over the last three months."

http://www.truthout.org/article/unemployment-five-year-high



http://freepage.twoday.net/search?q=unemployment
http://freepage.twoday.net/search?q=Dean+Baker

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