APN News

  • Friday, May, 2024| Today's Market | Current Time: 04:22:10
  • The US economy created 96,000 jobs in August. According to official figures from the Bureau of Labor Statistics, the unemployment rate fell to 8.1 per cent, compared with 8.3 per cent in July. The Bureau said employment increased in food services and drinking places, professional and technical services and healthcare.

    But the figure was lower than expected and revisions to June and July data mean that 41,000 fewer jobs were created than previously reported. Economists had expected non-farm payrolls to grow by 125,000. The percentage of Americans who either have a job or who are looking for one fell to 63.5 per cent, the lowest participation rate since 1981.

    The weak figure will put pressure on President Barack Obama in his re-election campaign, given than rival Mitt Romney has put jobs at the centre of the national debate.

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