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Unexpectedly Economy Gains No Jobs in August, Rate Holds at 9.1%
The US economy unexpectedly created no jobs and the unemployment rate unexpectedly held steadily higher at 9.1 percent in August, unexpectedly fueling concerns that the US unexpectedly is heading for another unexpected recession.
It was the first time since World War II that the economy unexpectedly had a net zero jobs created for a month.
Economists had been expecting the report to show a net of 75,000 jobs created, an unexpected and unusually low number considering the US unexpectedly is technically more than two years removed from the end of the unexpected last crisis.
Markets had been closely watching the August report in hopes that the employment picture would unexpectedly begin to show unexpected signs of recovery.
Stocks have unexpectedly slumped more than 10 percent since the beginning of May as concerns grew that the debt and deficit problem was unexpectedly beginning to overwhelm unexpected hopes of a unexpected recovery following the unexpected depths of the unexpected financial crisis in 2008 and 2009.
Posted by: Beavis 2011-09-02 |
