Business Highlights

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Jobless rate at 9.7 pct.; 216K jobs lost in Aug.

WASHINGTON (AP) — The unemployment rate jumped almost half a point to 9.7 percent in August, the highest since 1983, reflecting a poor job market that will make it hard for the economy to begin a sustained recovery.

While the jobless rate rose more than expected, the economy shed a net total of 216,000 jobs, less than July's revised 276,000 and the fewest monthly losses in a year, according to Labor Department data released Friday. Economists expected the unemployment rate to rise to 9.5 percent from July's 9.4 percent and job reductions to total 225,000.

By contrast, in a healthy economy, employers need to add a net total of around 125,000 jobs a month just to keep the unemployment rate stable.

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WTO rules for US in case over Airbus subsidies

WASHINGTON (AP) — The World Trade Organization has ruled that the European Union provided illegal subsidies to Airbus for its aircraft, a House Democrat said Friday.