Economy Adds More Jobs in August Than Expected

Washington, DC, Sept. 3, 2010--Nonfarm payrolls expanded by 67,000 in August, higher than the 30,000 gain expected and less than the revised 107,000 private-sector gains in July, according to the Labor Department

The U.S. lost 54,000 nonfarm jobs in August, the Labor Department said Friday. The decline was smaller than the 105,000 loss expected by Wall Street economists. Excluding census workers and other government employees,  The unemployment rate ticked higher to 9.6% in August from 9.5% in the previous month.

Average hourly earnings increased 3 cents, or 0.2% to $19.08. Economists had been expecting a 0.1% gain. Earnings are up 1.7% in the past year. The average workweek was unchanged at 34.2 hours. 

Private employers hired more workers over the past three month than first thought. But the unemployment rate rose in August for the first time in four months as more people entered the market looking for work.

Companies added a net total of 67,000 new jobs last month and both July and June's private-sector job figures were upwardly revised, the Labor Department said.

The economy lost nearly 8.4 million jobs in 2008 and 2009. This year, private employers have added back 763,000 jobs. But the unemployment rate has barely moved, ticking down from 9.7% in January to 9.6% last month.