September 2, 2011
Job Growth at Halt in U.S.; Worst Showing in 11 Months
By SHAILA DEWAN
The economy failed to add new jobs in August, the first time there has been no increase in net jobs in the United States in 11 months.
The flat performance in the job market was down sharply from a revised 85,000 gain of jobs in July, the Labor Department said Friday, and was far below a consensus forecast by economists of 60,000 new jobs. The unemployment rate stayed constant at 9.1 percent in August.
The nonfarm payrolls numbers were unchanged after a prolonged increase in economic anxiety that began with the brinksmanship in Washington’s debt-ceiling debate and was followed by the country’s loss of its triple-A credit rating, stock market whiplash and renewed concerns about Europe’s sovereign debt.