The August jobs report is in from the U.S. Department of Labor. The unemployment rate climbed to 6.1%. In August the economy lost 84,000 jobs in August. That makes a total of 605,000 jobs lost this year.
As CNN reports each of these final job reports as we get closer to the November elections is very significant and the presidential candidates are jumping on each report.
The jobs report immediately drew comment from the presidential candidates as well as the Bush administration.
The White House pointed to other economic readings, including last week's gross domestic product report. It showed second quarter growth jumping to a 3.3% annual rate, helped by economic stimulus checks and strong exports.
"While these (jobs) numbers are disappointing, what is most important is the overall direction the economy is headed," said the White House statement.
But the campaign of Democratic presidential candidate Barack Obama said the report points out the failure of Republican policies.
"John McCain showed last night that he is intent on continuing the economic policies that just this year have caused the American economy to lose 605,000 jobs," Obama said in a statement. "John McCain's answer is more of the same: $200 billion in tax cuts to big corporations and oil companies, and not one dime of tax relief to more than 100 million middle-class families."
One thing that could help create jobs is holiday hiring by retailers. However, retailers have a bleak outlook for sales this holiday season so they may not hire as many positions are they would during a more upbeat holiday shopping season.
