US creates no jobs in August
The struggling US economy added no jobs in August, a far worse reading than expected, official data showed today.business Updated: Sep 02, 2011 18:44 IST
The struggling US economy added no jobs in August, a far worse reading than expected, official data showed Friday.
The Labor Department said the unemployment rate remained unchanged at 9.1% t for a second month amid the zero job growth.
After a series of weak economic data, analysts had lowered their expectations for job growth, with the average estimate at net 70,000 in August.
That would be well below the 100,000 seen as necessary to support a steady unemployment rate, according to Briefing.com economists.
Employment in the private sector, which has been the main engine for jobs growth as revenue-strapped governments shed workers, "changed little" in most major industries, the Labor Department said.
The unchanged jobless rate was expected.
First Published: Sep 02, 2011 18:39 IST