Unemployment Down! ...but for the wrong reasons
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09-07-2012, 08:21 AM
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US economy adds 96K jobs, rate falls to 8.1 pct.
US economy adds 96K jobs; unemployment rate falls to 8.1 pct. as more people end job searches
WASHINGTON (AP) -- U.S. employers added 96,000 jobs last month, a weak figure that could slow the momentum President Barack Obama hoped to gain from his speech Thursday night to the Democratic National Convention.
The unemployment rate fell to 8.1 percent from 8.3 percent in July. But that was only because more people gave up looking for work. People who are out of work are counted as unemployed only if they're looking for a job.
The government also said Friday that 41,000 fewer jobs were created in July and June than first estimated. The economy has added just 139,000 jobs a month since the start of the year, below 2011's average of 153,000.
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