Unemployment in August rose to 9.7%, higher than the 9.5% most experts had predicted. The increase, .03% higher than the July number, demonstrates that the economy is still struggling to recover from the worst recession in 50 years.
The report also showed a revision to the June numbers, revised upwards by 20,000 additional jobs lost, and the July numbers, with an upwards revision of 29,000. With a housing market dependent upon new job creations, it appears that a housing recovery is still not on the horizon.
