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Employers add no net jobs in August; unemployment rate unchanged.

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Employers add no net jobs in August; unemployment rate unchanged.

Post by worrywart on Fri Sep 02, 2011 10:31 am

Christopher S. Rugaber, AP Economics Writer, On Friday September 2, 2011, 9:43 am

WASHINGTON (AP) -- Employers stopped adding jobs in August, an alarming setback for an economy that has struggled to grow and might be at risk of another recession.

The government also reported that the unemployment rate remained at 9.1 percent. It was the weakest jobs report since September 2010.

The average work week also declined and hourly earnings fell by 3 cents to $23.09.
Weak growth, Standard & Poor's downgrade of long-term U.S. debt in early August and a sell-off on Wall Street likely kept some businesses from hiring.

With job creation stalled and wages declining, consumers won't see much gain in incomes. That will limit their ability to spend, which undercuts growth. Consumer spending accounts for about 70 percent of the economy.

"The stagnation in US payroll employment is an ominous sign," said Paul Ashworth, an economist at Capital Economics. "The broad message is that even if the US economy doesn't start to contract again, any expansion is going to be very, very modest and fall well short of what would be needed to drive the still elevated unemployment rate lower."

http://finance.yahoo.com/news/Employers-add-no-net-jobs-in-apf-4252098583.html
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Re: Employers add no net jobs in August; unemployment rate unchanged.

Post by gigichicago on Fri Sep 02, 2011 4:01 pm

Wow, if this keeps up we are going into a economic depression. No, wait a minute, we are in a depression. Food and gas prices are sky high, no jobs and the American people are scared to death about America's future. That sounds like a depression to me.
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Re: Employers add no net jobs in August; unemployment rate unchanged.

Post by truth on Fri Sep 02, 2011 6:30 pm

What happened to all those jobs that were going to be provided by the "jobs creators"? It looks to me like the continued tax cuts for the ultra rich have been an utter failure.


Last edited by truth on Fri Sep 02, 2011 7:42 pm; edited 1 time in total

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Re: Employers add no net jobs in August; unemployment rate unchanged.

Post by truth on Fri Sep 02, 2011 7:41 pm

We have seen eight months of Speaker Boehner's "Jobs, jobs, jobs" promises. Where are the jobs you and your fellow Republicans promised, Speaker Boehner?

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Re: Employers add no net jobs in August; unemployment rate unchanged.

Post by elvis44102 on Fri Sep 02, 2011 11:54 pm

well i think the promises are still there...but thats it promises
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Re: Employers add no net jobs in August; unemployment rate unchanged.

Post by elvis44102 on Fri Sep 02, 2011 11:56 pm

truth wrote:What happened to all those jobs that were going to be provided by the "jobs creators"? It looks to me like the continued tax cuts for the ultra rich have been an utter failure.



the dems should mimic the big Rs "failed tax cuts" blah...blah..blah.."Failed Tax cuts"....
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Re: Employers add no net jobs in August; unemployment rate unchanged.

Post by truth on Fri Sep 02, 2011 11:59 pm

elvis44102 wrote:
truth wrote:What happened to all those jobs that were going to be provided by the "jobs creators"? It looks to me like the continued tax cuts for the ultra rich have been an utter failure.



the dems should mimic the big Rs "failed tax cuts" blah...blah..blah.."Failed Tax cuts"....

2X

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Re: Employers add no net jobs in August; unemployment rate unchanged.

Post by unemployed2long/1208 on Sat Sep 03, 2011 1:43 pm

Hey! Both sides hve promised to create jobs! They just didn't say when! But Obama said I want to create jobs so that everybody who wants a job will have a job! Duh! When is that Mr. President??? Uh! I want one now!
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Re: Employers add no net jobs in August; unemployment rate unchanged.

Post by stcfarms on Sat Sep 03, 2011 3:02 pm

Out here in 'fly over country' I see thousands of small towns that are losing population. It is not because they lack jobs, it is because people fall for the idea that once they graduate from college they can get good jobs in the city. We have unfilled jobs, inexpensive houses that sit empty and food that is not only good, it is downright cheap. The jobs do not pay nearly what you could earn in a city but they pay far more than what you need to live out here. I understand that it must be hard to give up a high crime rate, traffic jams, urban decay and all of the other wonderful perks of city life to go out and live in the 'great bumpkin patch' but you get used to it. Government does not create our jobs, we create our jobs.

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Re: Employers add no net jobs in August; unemployment rate unchanged.

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