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Economic News, Data and Analysis

Unemployment Rate at 5.7%

New unemployment data was released today…

THE EMPLOYMENT SITUATION: AUGUST 2002
Both payroll employment and the unemployment rate were little changed in August, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Job gains in services, government, and construction were largely offset by losses in manufacturing and retail trade.
Unemployment (Household Survey Data)
Both the unemployment rate, 5.7 percent, and the number of unemployed persons, 8.1 million, were little changed over the month. The jobless rates for the major worker groups–adult men (5.2 percent), adult women (4.9 percent), teenagers (17.2 percent), whites (5.1 percent), blacks (9.6 percent), and Hispanics (7.5 percent)–showed little or no change.

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