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Home >> Business
UPDATED: 09:50, September 03, 2005
US unemployment rate down to 4.9 percent in August
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The unemployment rate in the United States declined to 4.9 percent in August, the lowest level in the past four years, the Labor Department reported on Friday.

The 4.9 percent unemployment rate in August was down from a 5-percent jobless rate in July and was the lowest since August 2001.

The report showed that US companies added 169,000 jobs in last month, a sign that the labor market continued to gain traction before Hurricane Katrina struck the Gulf area in the country.

The gain of jobs in the month reflected increased employment in US industries, including construction, professional and business services, healthcare, education and financial activities. But US manufacturers shed jobs for the third straight month and lost 110,000 job in August.

Source: Xinhua


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