Today the Bureau of Labor Statistics (BLS) released its monthly jobs report for August. Sen. Charles E. Schumer, Chairman of the Joint Economic Committee released the following statement in reaction to the report and the persistently bad news about this economy:
“If there is a bright spot in today’s bleak jobs news, it is that we only have 4 jobs reports left before the Bush stewardship of this economy is finished. The White House and Republicans in Congress need to join us in passing additional measures to shore up this economy and give American families an opportunity to prosper.”
“For eight straight months, over 600,000 jobs have disappeared under Bush's watch economy, and today the unemployment rate spiked to 6.1 percent. These job losses and the weak economy are taking their toll on American families across the nation – from manufacturing and industrial regions to high-tech and farming states – making it harder for families to get ahead.” – Sen. Schumer
Some quick facts from the August Jobs Report from the Bureau of Labor Statistics:
• Unemployment rate rose from 5.7 to 6.1 percent in August, the highest rate since September 2003.
• 84,000 non-farm payroll jobs were lost.
• Since January, payroll employment has declined by 605,000.
• Manufacturing employment fell by 61,000; Motor vehicle and parts makers cut 39,000 jobs; and the employment services industry lost 53,000 jobs, totaling 284,000 fewer jobs this year.
• The number of jobless Americans shot up to 9.4 million, up by 592,000 over the month and by 1.8 million since April.
• Unemployment levels and rates rose over the month for most major demographic groups, with a particularly sharp increase in the rate for women age 20 and over.
• The number of long-term unemployed (27 weeks and over) increased by 163,000 to 1.8 million.