Commissioner's Statement on the Employment Situation News Release — 2008-09-05

Advance copies of this statement are made available to the press under lock-up conditions with the explicit understanding that the data are embargoed until 8:30 a.m. Eastern Daylight Time. The unemployment rate rose from 5.7 to 6.1 percent in August, and nonfarm payroll employment continued to trend down (-84,000). Since peaking in December, payroll employment has declined by 605,000, for an average monthly job loss of 76,000. Over the month, large job losses occurred in manufacturing and in employment services, while health care and mining continued to add workers. Average hourly earnings increased by 7 cents, or 0.4 percent. Manufacturing employment fell by 61,000 in August, and factory hours and overtime both declined by 0.1 hour. Housing- related manufacturers and automakers continued to be among the hardest hit. Wood product and furniture manufacturers each lost 7,000 jobs over the month. Motor vehicle and parts makers cut 39,000 jobs.