Payrolls Dip by 4,000; Unemployment Rate Holds at 4.6%

The U.S. lost 4,000 jobs in August for the first time in four years, and the unemployment rate held at 4.6% from July, the Labor Department said Friday.

The jobs downturn was well below economists’ forecasts of a 100,000 increase for the month, Bloomberg reported.

Manufacturers’ payrolls fell by 46,000, the most in more than four years, following a 1,000-jobs downturn in July.

Service industries added 60,000 jobs, down from 78,000 in July.

The unemployment-rate gauge is based on a survey of households. The number of payroll jobs added is determined by a separate survey of business and government establishments.