Unemployment rate rises to 9.6 percent

Liz Goodwin

The jobless rate rose for the first time in four months in August, despite private companies hiring more people than expected. The unemployment rate jumped to 9.6 percent, from 9.5 percent in July.

Companies added 67,000 new jobs last month, but that was not enough to counter the half million Americans who decided to resume their job search. When people stop looking for work, they are no longer counted as unemployed.

(Photo: An August job fair in Detroit. AP)