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Unemployment Rate Up to 9.6%, Wall Street to Open Higher

Written by KEYT Producer

Story Created: Sep 3, 2010 at 4:48 AM PST

Story Updated: Sep 3, 2010 at 10:31 AM PST

NEW YORK (AP) - Stock futures are rising after a better-than-expected report on the job market lifted hopes about the pace of economic growth.

The Labor Department says private employers added 67,000 jobs in August, better than the 41,000 economists had expected. Overall, 54,000 jobs were shed during the month, due primarily to layoffs of temporary workers conducting the census.

Hourly earnings also rose more than expected, climbing 0.3 percent. Economists were expecting earnings to rise just 0.1 percent.

The unemployment rate inched up to 9.6 percent, in line with forecasts.

(Copyright 2010 by The Associated Press. All Rights Reserved.)
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