Unemployment edges up to 9.6% in August, 54k jobs lost

September 8, 2010 · Posted in Commentary 

The Bureau of Labor Statistics reported today that the unemployment rate increased to 9.6% in August with 54,000 jobs being lost.  Private sector employment increased by 67,000 jobs.

Let’s breakdown the numbers:

  • The unemployment rate for high school drop outs was 14.0%, up from 13.8% last month.
  • 4.6% of college graduates were unemployed, up from 4.5% the previous month.
  • The jobless rate for high school graduates was 10.3%, up from 10.1%.
  • 9.8% of men 20 and over were unemployed, up from 9.7%.
  • Women 20 and over had an unemployment rate of 8.0%, up from 7.9%.
  • 26.3% of 16 to 19 year olds were unemployed, up from 26.1% last month.
  • Jobless rate among whites was at 8.7%, up from 8.6% from last month.
  • 16.3% of blacks were jobless, up from 15.6% the prior month

Although unemployment rose across all groups, college graduates continue to enjoy the lowest unemployment rate.

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