Friday, September 2, 2011

0 Jobs

The August jobs report is out and it was even worse than last month. The Labor Department said the US economy did not add ANY jobs last month (and the previous two months were revised lower by 58,000), the unemployment rate remained at 9.1 percent and 14 million Americans are still out of work (23 million if you include part-timers who want to be full-time).

That this report comes just before Labor Day weekend is a cruel coincidence. That the report comes days before President Obama delivers a “major” speech about jobs underscores a basic fact: Obama blew it on jobs.

. Jobs Created: NONE (Revisions: -58K, July revised to + 85 from +117,000, June revised to +20K from +46,000)

. Unemployment Rate: 9.1 percent (unchanged from July)

. Under-Employment Rate (marginally-attached, part-time): 16.2 percent (from 16.1 percent in July)

. Total Number of Unemployed: 14 million (from 13.9 million)...
Jill Schlesinger

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