National jobless rate ticks up to 9.6%54,000 jobs were dropped from the Nonfarm payroll in August, and the national unemployment rate clicked up to 9.6 percent, the U.S. Bureau of Labor Statistics reported today.
Here’s how we stack up in Ohio and the Mahoning Valley:
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Looking for a free Labor Day get-away? To kick off its 30th anniversary as a coastal wetland research laboratory and outdoor classroom for scientists and community members alike, the Ohio Division of Wildlife’s Old Woman Creek National Estuarine Research Reserve is offering a variety of free, family-friendly events on Saturday, September 4.
Construction Sector loses another 33,000 jobs in July.
The estimated change of employment from June to July was revised down slightly, from the previously reported increase of 42,000 to an increase of 37,000.
The decline in private employment in August confirms a pause in the recovery, already evident in other economic data. The deceleration in employment was evident in the major sectors and by size of business. This month’s decline in employment followed six monthly increases from February through July. Over those six months, the average monthly gain in employment was 37,000 with no evidence of acceleration.
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For yet another week, fixed-rate mortgages reached record lows, as did the 5-year adjustable rate in this survey.
The Pending Home Sales Index,* a forward-looking indicator, unexpectedly rose 5.2 percent to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June, but remains 19.1 percent below July 2009 when it was 98.1. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.
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