8:30am 09/05/03
U.S. Aug. non-farm payrolls fall 93,000 By Rex Nutting
WASHINGTON (CBS.MW) - The U.S. economy lost payroll jobs in August for the seventh month in a row even as the unemployment rate dipped to 6.1 percent, the Labor Department reported Friday. Non-farm payrolls shrank by 93,000, bringing the total job losses to 595,000 since January. The decrease in payrolls was the largest since March. Economists had expected a small gain in payrolls of about 19,000 and had forecast that the jobless rate would hold steady at 6.2 percent. Manufacturing firms cut 44,000 jobs, government axed 26,000 and professional services eliminated 28,000 jobs. Health services added 25,000 jobs, construction added 19,000 and temporary help services added 7,000 jobs. |
