In other economic news, newly released figures show the manufacturing sector grew last month for the first time in over a year and a half. The Institute for Supply Management says its August index also reached its highest level in two years. At the White House, President Obama welcomed the news.

President Obama: “There’s no doubt that we have a long way to go, and I and the other members of this administration will not let up until those Americans who are looking for jobs can find them. But this is another important sign that we’re heading in the right direction and that the steps we’ve taken to bring our economy back from the brink are working.”