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Employment Situation Summary – August 2009

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News release: “Nonfarm payroll employment continued to decline in August (-216,000), and the unemployment rate rose to 9.7 percent, the U.S. Bureau of Labor Statistics reported today. Although job losses continued in many of the major industry sectors in August, the declines have moderated in recent months. In August, the number of unemployed persons increased by 466,000 to 14.9million, and the unemployment rate rose by 0.3 percentage point to 9.7 percent. The rate had been little changed in June and July, after increasing 0.4 or 0.5 percentage point in each month from December 2008 through May. Since the recession began in December 2007, the number of
unemployed persons has risen by 7.4 million, and the unemployment rate has grown by 4.8 percentage points.”

  • AARP: “The report did contain some good news for older workers, whose unemployment rate was 6.8 percent last month, virtually unchanged from July. The data show that there were 27.2 million workers age 55 and over who were working last month, about the same as a year ago. Older women continued to hold onto more of their jobs than older men, according to Emy Sok, an economist with the Bureau of Labor Statistics. Among older men, the unemployment rate was 7.5 percent; for women 55 and over it was 6.7 percent. This difference in unemployment rates between the genders also held true for younger workers ages 25 to 54.”
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