The US economy shed 216,000 jobs in August, less than the 276,000 lost last month and the 225,000 loss economists were expecting, the Labor Department reported today. With monthly job losses still elevated, the unemployment rate rose to 9.7% in August, its highest level since June 1983. Labor also revised June job losses from 443,000 to 463,000 and July job losses from 247,000 to 276,000, which together adds another 49,000 jobs lost over the last three months. Economists have said the economy needs to create about 100,000 jobs each month to keep up with new workers, but with August's numbers,...