The U.S. economy unexpectedly lost
93,000 jobs in August, the most since March, and the unemployment
rate fell to 6.1 percent as more discouraged workers dropped out
of the labor force, government figures showed.
Payrolls fell after a revised 49,000 drop in July, the Labor
Department said in Washington. The jobless rate fell from 6.2
percent in July and 6.4 percent in June, the highest since 1994.
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The United States needs to start generating jobs to sustain consumer
spending that’s been the backbone of the recovery, economists
said. The August declines were broad-based, hitting the services
industries as well as manufacturers, who have now shed jobs for
37 straight months.
Bloomberg News
