Economy Gained Zero Jobs in August 2011
Posted on September 2, 2011The new jobs report is out and its not good. The Bureau of Labor Statistics reports that the economy create zero jobs in August. There were jobs created and jobs lost which led to an overall net gain of zero jobs. The unemployment rate held steady at 9.1%. The very weak report is another sign the economy is heading back into a depression.
Jobs in the information industry (-48,000), manufacturing (-3,000) and government employement (-17,000) showed losses. Gains occurred in health care (+30,000) and mining (+6,000).
CNBC reports that economists had been expecting a gain of 75,000 jobs in August.