Zero, Zip, Zilch: New Jobs Report Shows No Net Jobs Added in August
- Posted on September 2, 2011 at 8:38am by
Jonathon M. Seidl
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WASHINGTON (The Blaze/AP) — Employers stopped adding jobs in August, an alarming setback for an economy that has struggled to grow and might be at risk of another recession.
It was the weakest jobs report since September 2010. The unemployment rate remained at 9.1 percent.
CNBC reports:
It was the first time since World War II that the economy had a net zero jobs created for a month.
Economists had been expecting the report to show a net of 75,000 jobs created, an unusually low number considering the US is technically more than two years removed from the end of the last crisis.
Stock futures plunged on the news. In the 15 minutes after the report was released, Dow futures fell 94 points, from 11,401 to 11,318.
A strike by 45,000 Verizon workers lowered the job totals. Those workers are now back on the job.
The weakness in employment was underscored by revisions to the jobs data for June and July. Collectively, those figures were lowered 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.
The report may dampen expectations for the economy to pick up in the second half of the year. With hiring stagnant and wages declining, consumers won’t see much gain in incomes. That will limit their ability to spend, which undercuts economic growth. Consumer spending accounts for about 70 percent of the economy.
The economy needs to add roughly 250,000 jobs a month to rapidly bring down the unemployment rate, which has been above 9 percent in all but two months since May 2009.
In August, the private sector added 17,000 jobs, the fewest since February 2010. That compares with 156,000 in July and 75,000 in June.
Hiring fell across many different sectors. Manufacturers cut 3,000 jobs, its first decline since October 2010. Construction companies, retailers, and transportation firms also cut workers.
The health care industry added 30,000 jobs last month.
Weak growth, a downgrade of long-term U.S. debt in early August and a sell-off on Wall Street likely kept some businesses from hiring.
The economy expanded at an annual pace of only 0.7 percent in the first six months of the year. That was the slowest six months of growth since the recession officially ended in June 2009.
Most economists forecast that growth may improve to about a 2 percent annual rate in the July-September quarter. But that’s not fast enough to generate many jobs.
The economy’s weakness was underscored Thursday by the Obama administration, which estimated that unemployment will average about 9 percent next year, when President Barack Obama will run for re-election. The rate was 7.8 percent when Obama took office.
The White House Office of Management and Budget projects overall growth of only 1.7 percent this year.
Next week, Obama will deliver a rare address to a joint session of Congress to introduce a plan for creating jobs and boosting economic growth.
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Comments (213)
TEARS FOR AMERICA
Posted on September 2, 2011 at 9:17amHe who steals must steal no longer;but rather he must labor, performing with his own hands what is good, so that he will have something to share with one who has need. Ephesians 4:28
Report Post »Marylou7
Posted on September 2, 2011 at 9:26amVery good scripture …I’m passing it on. Thanks
Report Post »steinkba
Posted on September 2, 2011 at 9:15amWhat’s your point? Take care of it and stop complaining.
Report Post »Mike Benton
Posted on September 2, 2011 at 9:15amZERO ZERO The first is for the jobs number, the second is 0bama!
Report Post »BBReggie
Posted on September 2, 2011 at 9:13amI guess we can change the first letter of his name from an “O” to a zero.
Report Post »ROMANS 10-9
Posted on September 2, 2011 at 9:13amMaxed out are you!
Report Post »Pay your Visa bill then try again.
Grace1798
Posted on September 2, 2011 at 9:13amObama HAS BEEN A SUCCESS! YOU ASK WHY? Because everything he and his Anti-American, Socialist, Progressives did what they wanted to do to our country….TAKE IT DOWN AS FAST AS POSSIBLE and those who voted for this man simply on a promise of the one word “CHANGE” helped him and his cronies succeed in doing so. He has another year to do his heap do even more damage and mark my words, HE WILL DO IT! This IS the plan folks. Before he was elected, people were told about his leanings toward Socialism. We saw and heard the teachings of his pastor and church he attended for 20+ years in which they cursed America and Americans, but for the sake of “CHANGE” informed voters put him in office anyway. With today’s computer age, there is no reason NOT to be informed this time around! Get the RINOS and Socialists out of power……you see what they are doing with it and it’s not to help YOU. Look at what they’ve done and are doing, NOT what they say.
Report Post »Littlebit1776
Posted on September 2, 2011 at 9:53amGRACE1779 I have been saying this even befor he got he was made king. And if our congress dose nothing about it they are just as gilty as he!!!!
Report Post »SkunkWorks
Posted on September 2, 2011 at 10:00amExactly ZeroObama is doing just enough to slow let the U.S.A. bleed out this country. ZerObama is a diehard progressive he believes what he is doing is 100% correct in the public eye but the truth is in his own mind and his cronie supporters they all know the end game is to destroy the U.S.A and fundamentally change it to their big government federal family utopia where they tell all of us exactly how to live.A world were everybody is equal they say. ZerObama will say he did all the correct things to fix this country but it is the fault of the Conservatives and the Tea Party that stopped his ideas from working and that they need to be publicly harassed (class warfare) into being silenced. Oh wait that it already happening and the CBC statements of “the Tea Party want to see black people hanging from trees” is just the latest attempts to start true hand to hand combat in ours neighborhoods in the class warfare game. Your going to start seeing more young black male and females attacking white people. Oh i forgot it has already started in Philly with the flash mobs. Wake the hell up people because it is only going to get worse. Prepare yourselves for everything and most of all to get ZerObama out of the White House.
Report Post »Canyonman5555
Posted on September 2, 2011 at 10:09amRight on !!!! I recognize this community organizer as a snake oil salesman the first time I ever heard him selling everyone in “CNANGE”. Well, people did not recoginze the change he was selling was a bill of goods. Just goes to show you people do not do their homework. They choose to listen to the state-controlled Media such as CNN, ABC, CBS, NBC, MSNBC, PBS. I just had a liberal peer walked out the door earlier this week at work. Instead of placing the blame where it should go, he blames the company. Heavy regulations, ObamaCare, Quantitiative easing, debt, downgrade of America , bypassing congress, have taken their toll. Only when the American population wakes up and open ther eyes to see that this is a plan of Action to destroy the U.S. will the tide turn. With the marxist and socialist controlling the media and the education system, this will truely take divine intervention.
Report Post »thechief64
Posted on September 2, 2011 at 2:17pmGrace, you’ve got it right. After wading through a lot of frustrated people’s comments, I’m glad I found someone else who understands what Obama is up to. He is not dense and those who say he “just don’t get it” are disgustingly wrong. He has us on the path to destruction that he and his handlers outlined and were able to foist upon the gullible and uninformed in this once great nation. I hope that all who read these posts are also talking to their contacts via other media. God forbid that we don’t get this pretender out of office not later than 2012 — preferrably sooner! If he had any concern for the U.S., he would resign.
Report Post »kennyg933
Posted on September 3, 2011 at 9:30amPRECISELY!!! So many people miss calling it for what it is! Obama’s mission is to END IN IT. He was put in place for ONE REASON and one reason ONLY. Here it is: Obamas mission is to finish off the dollar. The end game is being played out. All will be forced into the new currency, the new economy, the new enslavement. This is the end game. One world currency, with biometric chipping of all of your data, in a one-world, computer controlled slavery existence. Resistance is necessary and somewhat futile, but there you have it: The Obama mission, boiled-down to a few sentences. I ask you the question asked in the bible: “Who is like the beast? Who can make war against the beast?” As we have read, ‘He forces ALL,small and great, free and bond, rich and poor, to receive a mark [biometric chip, I can now see], on their right hand or on their forehead, so that NO MAN may buy or sell, except he who has the mark, the biometric chip that allows you to particpate in the new world order. And what if you don’t want to participate and you want to go back to the non electronic monitoring standard? See the history on the Nazi‘s final solution and apply it those who will probably be called ’Non-Chippers’. There you have it, my little droogies, the Obama mission. So far, on course for success!!!
Report Post »decendentof56
Posted on September 9, 2011 at 4:20amIt was very disturbing watching this unfold when Obama came on the scene. You could see that he was to be the one to get the Dem nomination. You could hear in his campaigning the underlying dislike of this country. His not-so-subtle (to me) animosity towards whites, our countrys heritage, his affiliation with racist Jeremiah Wright and Bill Ayars, was very telling of who this man was.
He and Eric Holder have emboldened young blacks who were already poisoned with hatred towards whites and the US to now act out their hatred with the flash mobs we see. All this was in the plan. I cannot even imagine another 4 years with this America-hater and his equally America-hating wife in the WH. They must lay in bed at night laughing at the dumb, guilt-ridden whites who put them in the WH. They are certainly enjoying watching us wring our hands at what might happen next.
Obama is a traitor, people. Wake the heck up and get involved to defeat this evil before it’s too late. Get involved with your local tea party group. It‘s one of the only places where you’ll hear the truth.
Report Post »Remember that Obama said… “fundamental transformation of America”, and think for a moment of what that means.
TRONINTHEMORNING
Posted on September 2, 2011 at 9:13amAlot of prayer and some intelligent voting; we can fix this mess.
Report Post »gallinipper
Posted on September 2, 2011 at 9:30amYes WE can……The real Hope and Change is coming by way of the silent majority AKA / Tea Party
Report Post »qpwillie
Posted on September 2, 2011 at 9:46amTRONINTHEMORNING, I hope so but I keep having this nagging feeling that there might not even be an election in 2012. I hope we haven’t slept too long.
Report Post »biohazard23
Posted on September 2, 2011 at 9:07amHope and change? Only if your hope is to change the entire populace to a constituency of govt dependency. Cradle to grave, kids. Cradle to grave…..
Report Post »NHwinter
Posted on September 2, 2011 at 9:07amI’m sure its a glitch. Contact Glenn, I bet the straighten it out quickly.
Report Post »MGB-CPA
Posted on September 2, 2011 at 9:03amObama should be HAPPY (Privately). Believe what you want. From in his own words … I’ve accomplished 75% of my agenda, I have 30% to go. From that comment and from his actions, just what do you think that agenda is?
Report Post »ProbIemSoIver
Posted on September 2, 2011 at 1:01pmFrom that comment, I can see he is as mathematically inept, as he is socially and politically !!!
Report Post »Defiant530
Posted on September 2, 2011 at 9:03amBlah,Blah,Blah whatever Dicky,Nicky ,nobody cares,call the govt. maybe they will rush out to help you
Report Post »Mateytwo Barreett
Posted on September 2, 2011 at 9:03amBook Cookin’ 101! BUT- wait for it- in a wecome down from the mount, the Won will enlighten us as to the next step in his grand plan to bring us one step closer to the total transformation we have all been waiting for the past 2 1/2 years! I’m just giddy with anticpation!!
Report Post »wifezilla
Posted on September 2, 2011 at 9:02amNobody is hiring because we are all evil racists. It’s the only logical explanation. A plot to make Obama look bad. Yeah…that’s it! /sarcasm
Report Post »NHwinter
Posted on September 2, 2011 at 9:10amLets see Obama explain this one during his speech Thurs. Of course he will blame, blame, blame.
Report Post »Mil-Dot
Posted on September 2, 2011 at 11:30amNHwinter
Report Post »You mean you are actually going to watch the speech? Ha ha ha ha ha. You have got to be kidding me. You are still slurping on that large KoolAid huh. Lol. Wow.
dustoffmom
Posted on September 2, 2011 at 8:59amHow much longer? Counting down every day of the next 15 months. And praying we make it that long.
Report Post »Defiant530
Posted on September 2, 2011 at 8:59am2012….ANYONE BUT OBAMA….the village idiot
Report Post »NickyLouse
Posted on September 2, 2011 at 9:26amHow many jobs have you provided?
Report Post »rflussier
Posted on September 2, 2011 at 11:25amI don’t expect the President, or Congress to provide/create a single damned job.
I expect them to get the heck out of the way for those of us who do!
As we continue to lose jobs (wait for the revisions next month), they continue to pile on the regulations, the “Justice” Dept blocks a merger that AT&T said would have brought 2000 jobs back to the US, and they raid one of the very few successful manufacturers still in this country.
You simply couldn’t make crap like this up.
Report Post »Rayblue
Posted on September 2, 2011 at 2:21pmLast month I guided two old work buddies to new employment at better working conditions
Report Post »here in Texas. Laboratory jobs with benefits. Private sector employment is still available here.
I don’t know if government hiring is still frozen due to Obama. But I suspect.
ROMANS 10-9
Posted on September 2, 2011 at 8:58amThe Teleprompter in Chief…
Report Post »MGB-CPA
Posted on September 2, 2011 at 9:12amRoman’s 10-9 … I Love that scripture …THANK YOU for the reminder.
Report Post »Profx72
Posted on September 2, 2011 at 8:58amWow! That’s WAY better news than I expected to hear. I’m so glad that pesky recession ended in June of 2009, because things sure have gotten better. How’s that Hope & Change working out for ya?!
Report Post »http://www.maverickvoice.com
Sargon
Posted on September 2, 2011 at 8:57amHow unexpected. But wait! Hope and change are not lost. If Congress does not play along O will create a million jobs all on his own immediately following his speech next week.
Report Post »AIDANMAN
Posted on September 2, 2011 at 8:52amemployers are waiting on another great speech, from the MAN.
Report Post »caladesi
Posted on September 2, 2011 at 8:52amHe, obamulus, will go down as the worst president in the history of our country! And he will hold that position for generations.
Report Post »lovenfl3
Posted on September 2, 2011 at 8:50amIf you want to know more about the upcoming farce, that they’re calling a jobs plan, chick this one out. Actions speak louder than words. http://www.youtube.com/watch?v=PKZhaEFA1Yk
Report Post »Divineliberty
Posted on September 2, 2011 at 8:54amif they are reporting zero…that means we actually went backwards…I don’t trust any number that comes out of that city anymore
Report Post »boston-rightwinger
Posted on September 2, 2011 at 8:50amThe Obama Recession continues!
Report Post »let us prey
Posted on September 2, 2011 at 8:54ampeoplescube
Report Post »In just three years Obama has emancipated 12 million former wage earners, adding them to the glorious Food Stamp program – that is a victorious 38% increase for a total of 44 million
rfycom
Posted on September 2, 2011 at 8:49amNo longer a republican and damn sure ain’t no democrat. Where is the actions to create jobs? Nither side has done a darn thing. Funny that the right ran on job last time even though they say out of the other side of their mouth that the government does not create jobs. On the left side nothing happens and now numb nuts is going to address the nation and repeat the same thing.
Crazy
Report Post »Blackhawk1
Posted on September 2, 2011 at 9:15amrfycom
That almost sounds like an Obama speech. How do you expect 1/3 of the Government (The House) to get any kind of bills passed to help the economy when Obama won‘t sign one and Reid won’t even vote on a budget much less any kind of regulatory reform that the Democrats passed before they were elected? The only way this economy will get moving again is after 2012 when Conservatives control the White House and Senate along with the House.
Report Post »Canyonman5555
Posted on September 2, 2011 at 10:31amWell, don’t really care if you are Dem. Rep., Conferderate, Yankee , Do a little homework . May I suggest you start diigging when Pelosi and Reid took control of Congress. May I suggest, you do research on fannie mae, freddie mac and how Obama, yes the same, took steps to block reform actions to both entities. I believe the answer will be revealed unto you when you start looking at the path Pelosi and Reid took American down.
Report Post »rfycom
Posted on September 2, 2011 at 2:29pmRead my post again. Did I say I support the democrats. They aint done wiggle either. Both sides are equally messed up. For every bad one you name on one side you can name an equally useless one on the other.
I still love you guys though. YOu want know why. Because you are Americans. You have the right to disagree with me. I have a right to disagree with you. FACTS. THe crap is all f(*@#(*$ed up and both sides are the blame. If you’re taking sides, you be wrong brother.
Report Post »rosecityken
Posted on September 2, 2011 at 6:05pm@RFYCOM like everyone here or living and breathing in this beautiful country of ours you are entitled to your opinion i would just pose these questions and our observations and ask what you think in response ….First bush tax cuts? did you not hear about em? the dems are still blaming the bush tax cuts for everything except the japanese tsunami….sure it eased the tax burden on the people ACTUALLY PAYING TAXES. “that dont matter to the gimme your money so i can give it to someone sittin on their ass party” (no names but their mascot is a JACKASS). …..point #2 D‘s not R’s have been in control or at the least 2/3 of it for the last 2 1/2 – 3 years? so what does it matter what ideas you have when people like Harry Reid will table a bill with no discussion JUST because it came from a republican? talk to “ol’ stretch” pelosi about cramming 2200 page unread bills up america patootey while polls relatively that 62% didnt want it. its all good to call out the our debt has been built by both parties. but what THIS president has spent in 2 1/2 years is more than ALL of the previous combined 4 trillion in the last 2 1/2 years? how do you explain that? or better yet how do you defend it when 42 cents of every dollar of that is borrowed from the chinese, who interestingly enough are getting out of us bonds, and with talks of qe3 going around who can blame them. yes there is blame to go around but ALOT lies square on this pres’s lap.
Report Post »one years food ration like glenn says
Posted on September 2, 2011 at 8:48amWHy ? Because Obama is an economic illiterate .. If he only took some of the Nazi regulations away it would get better.. He doesn’t get it..
Report Post »Roberto G. Vasquez
Posted on September 2, 2011 at 9:04am@ One Year food:
Report Post »Obama doesn’t get it? Assume for a moment that he is trying to destroy the American capitalist economy and everything he does makes sense.
rubydee
Posted on September 2, 2011 at 9:32amThis is why I don’t watch Hannity, O’Reilly or Fox news in general anymore. If they can’t see that this poor excuse of a questionable American is doing this on purpose I have no time anymore to listen to the babble that comes out of these peoples mouths. THIS IS BEING DONE ON PURPOSE! When will people get it through their thick skulls?
Report Post »TRONINTHEMORNING
Posted on September 2, 2011 at 8:40amThis country is in irons. But breakin’ free in 2012!
Report Post »one years food ration like glenn says
Posted on September 2, 2011 at 8:51amI doubt it bro, I see all these people on here saying Draft this one and I’m going to do a right in ballot for West and all that crap.. The republican vote is going to get split and it’s going to be 4 more years of the historic one.. Course unless people unite behind one candidate. Anyway..
Report Post »rfycom
Posted on September 2, 2011 at 8:56amNot with the gov we have mate. Has it mattered which side was in office over the last few terms? No.
Report Post »let us prey
Posted on September 2, 2011 at 9:01amOne year
Report Post »It is difficult to back anyone these days. Only thing I know is we will need an escape plan like Israel has if the pretender in chief gets one more term.
rubydee
Posted on September 2, 2011 at 9:41amEscape to where? We WERE “The Last Great Hope.”
Report Post »Ronald Reagan