Unemployment Hits 9.8%

Oct. 2, 2009
U.S. sheds 263,000 jobs in September

On October 2 the U.S. Labor Deparment reported that the unemployment rate rose in September to 9.8% as 263,000 jobs were cut.

The goods-producing sector lost 116,000 jobs in September including 64,000 in manufacturing. Even worse, the services sector shed 147,000 jobs with 39,000 of those in retailing.

The report on nonfarm payrolls, seen as one of the best indicators of economic momentum was far worse than expectations for a loss of 175,000 jobs and could hurt chances of a sustainable recovery from recession.

The number of job cuts rose sharply after a revised loss of 201,000 in August.

Since the start of the recession in December 2007, the figures showed the number of unemployed persons has increased by 7.6 million to 15.1 million, and the unemployment rate has doubled to 9.8%, according to the Labor Department.

The latest official data showed the economy contracted at a 0.7% pace in the second quarter, nearly emerging from the recession that slashed output by 6.4% in the first quarter.

Most economists expect growth to return in the third quarter but say the recovery could fade without job growth.

Copyright Agence France-Presse, 2009

Popular Sponsored Recommendations

Global Supply Chain Readiness Report: The Pandemic and Beyond

Sept. 23, 2022
Jabil and IndustryWeek look into how manufacturers are responding to supply chain woes.

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

How Organizations Connect and Engage with Frontline Workers

June 14, 2023
Nearly 80% of the 2.7 billion workers across manufacturing, construction, healthcare, transportation, agriculture, hospitality, and education are frontline. Learn best practices...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!