Unemployment Rate Jumps to 6.1 Percent

The U.S. Department of Labor said the economy lost 84,000 private nonfarm jobs in August, the eighth straight month of job losses. The unemployment rate jumped to 6.1 percent, the highest in nearly five years. Both figures were worse than economists had forecast.

In August, employment fell in manufacturing and employment services, while mining and health care continued to add jobs. Average hourly earnings rose by 7 cents, or 0.4 percent, over the month.