News
August jobs report shows little change
Posted: Sep 2, 2011 7:14 AM by Kate Richards
Updated: Sep 2, 2011 9:54 AM
The job report is out, and employers added no net workers last month and the unemployed rate was unchanged. This is a sign that many were nervous the U.S. Economy is a risk of slipping into another recession.
The Labor Department says total payrolls were unchanged in August, the weakest report in almost a year. It's the first time since February 1945 that the government has reported a net job change of zero. The unemployment rate stayed at 9.1 percent.
A strike by 45,000 Verizon workers lowered the job totals. Those workers are back on the job.
Job gains in June and July were revised lower, to show 57,000 fewer jobs added. The downward revisions were all in government jobs. The average work week also declined and hourly earnings fell
by 3 cents to $23.09.
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