Friday, September 2, 2011

Zero Job Gain, Unemployment Stagnant at 9.1 Percent

Posted By on Fri, Sep 2, 2011 at 9:50 AM

A sputtering economy slammed on the brakes again in August, resulting in a zero net job growth, its worst showing in 11 months. The dismal report was down sharply from a 85,000 job gain in July. The unemployment rate stayed constant at 9.1 percent in August.

About 45,000 jobs were off the payroll because of a nationwide strike at Verizon, which contributed to the poor job performance, but payrolls were weak across the board according to the U.S. Labor Dept.

This morning's numbers were worse than predicted, and, as a result, stocks fell on the news.

Idaho's unemployment rate is currently 9.4 percent.

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