Unemployment rate was unchanged in AugustThe U.S. unemployment rate remained at 9.1 percent in August as employers added no net jobs, according to USA Today.
Payroll employment growth was zero—the first time that has happened since February 1945. This signals that employers were wary the economy could experience another recession.
Analysts expected the economy to add 93,000 jobs. The August job totals were lowered as a result of a strike by 45,000 Verizon workers, who since have gone back to work.
The economy needs to add about 250,000 jobs per month to rapidly decrease the unemployment rate. Employers added an average of 72,000 jobs per month from May through July, which is down from 215,000 jobs per month during the previous three months.
In July, the health care sector added 30,000 jobs; mining sector added 6,000 jobs; and temporary help services sector added 5,000 jobs. The government sector cut 17,000 jobs and the manufacturing sector cut 3,000 jobs. The construction sector, leisure and hospitality sector and financial activities sector basically were unchanged.
The number of unemployed people in the U.S. was essentially unchanged at 14 million in August.
Date : 9/6/2011