‘ZERO’ GROWTH!
Money & Company
Tracking the market and economic trends that shape your finances.
September 2, 2011 | 6:11 am
The U.S. added no new jobs in August as employers cut back hiring and trimmed work hours of existing employees, the government said Friday.
The latest snapshot of the labor market provided more evidence that the economic recovery remains threatened by the unusually weak labor market.
The unemployment rate stayed at 9.1%. It was the first time in a year that the nation’s monthly payroll employment tally showed no growth.
But the August report was affected by the temporary strike of 45,000 Verizon workers during the week when the Labor Department surveys employers.
Hiring may also have been held back by the turmoil over the debt-ceiling fight and its effect on Wall Street and public confidence. Even accounting for the Verizon strike, many economists were expecting job growth of around 70,000 for August.
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This is no surprise given the current political climate. Obama has postponed all the new EPA regs until AFTER his hopeful re-election….and if he loses, the new Prez is stuck with those recommendations. These are what we conservatives call ‘JOB KILLERS’ and there are too many damn regulations already.
Amen Little Stevie! From your mouth to god’s ears…. After all the new County motto is : “IN GOD WE TRUST.”
None of the leaders care if you guys and gals have a job. They only care if their friends, family and them self’s have jobs. As long as they have money all is well!