September 2, 2011
Jobs number: 'Worst showing in 11 months'
And that's the sub head in the New York Times: The economy showed no job growth in August, the first time there has been no increase in net jobs in the United States in 11 months. The flat performance in the job market was down sharply from a revised 85,000 gain of jobs in July, the Labor Department said Friday, and was far below a consensus forecast by economists of 60,000. The unemployment rate stayed constant at 9.1 percent in August. The nonfarm payrolls numbers were unchanged in August after a prolonged increase in economic anxiety that began with the brinksmanship in Washington's debt-ceiling debate and was followed by the country's loss of its triple-A credit rating, stock market whiplash and renewed concerns about Europe's sovereign debt. So who or what is Obama going to blame next week in his speech for this catastrophe? You have the hurricane, of course. And then there's the earthquake. The Verizon Strike. Poopey head Republicans. Uncertainty in the markets. Citizens too...(Read Full Post)