US unemployment rises to 9.6 percent

The US Labor Department figures show the world’s biggest economy is still battling the recent recession, as its unemployment rate has increased to 9.6 percent in August.

The figures provide millions of unemployed men and women across the United States with an insight into the status of their ailing economy in terms of current and prospective job markets.

According to the latest figures, the US economy has shed another 54,000 jobs in August, resulting in a 0.1 percent rise in unemployment since the previous month.

However, Wall Street sees the news as surprisingly good, since economists had initially predicted an estimated loss of 120,000 jobs.

US President Barack Obama is reportedly looking at new ways to boost jobs and growth in the country, although the White House has ruled out any new economic stimulus plan aimed at reigniting the sluggish economic recovery.