Rise In National Unemployment Despite Job Gains In August

Although some companies continue to hire, the country's unemployment levels are still high

. Aside from the fact that employment opportunities aren't as many as the number of people seeking work, many employers are looking to hire workers with specialized skills or higher levels of education.

August of this year found private businesses and companies hiring around 67,000 workers, which hasn't made much of a dent in unemployment figures - the figure rose from 9.5% to 9.6% as job hunters overwhelmed job openings in terms of number.

The rate of unemployment, so far, has gone beyond 9% for more than a year and a quarter, and experts are forecasting the streak's continuation into 2011. If this prediction becomes reality, the record of unemployment in 1982-1983 (at more than 9%) will be broken.

The recent Labor Day weekend saw almost 15 million unemployed, with the economy's slow recovery placing pressure on the Democratic Party and administration leader Barack Obama long before the coming midterm elections in November. Prior to the weekend, the President said that he intended to start a new proposal package that's likely to include spending and tax cuts to fast-track the growth of employment opportunities.

Aside from last month's job-creation figures, the private sector's job figures for the months of June and July were revised. The economy dealt with the blow of 54,000 jobs lost in August, giving credence to reports from the Labor Department. The report, which suggests that the economy is still in danger, stresses that the extremely gloomy predictions of many economists were unfounded.

The job gains in August have done little to stem the lack of jobs across numerous sectors and industries. The unemployment rate continues to rise, with private businesses adding a mere 78,000 jobs monthly from June to August. Analysts calculate that a minimum of 200,000 job openings a month will be needed to cope with unemployment and population growth, but the likelihood of this number of openings is slim, at least until next year, economists say.

by: Carina Smith

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