August Jobs Report

[CARLHAYDEN]

The US economy created no jobs and the unemployment rate held steadily higher at 9.1 percent in August, fueling concerns that the US is heading for another recession.

http://www.cnbc.com/id/44370439

Worse news.

Obama is going to talk about what he wants to do about jobs in the United States next week.

Given his track record, that is terrifying!

Its the Midas touch in reverse.

[CARLHAYDEN]

More disturbing news:

First, as I have pointed out previously, initial employment reports have been consistently overstated for the past few months, with June and July figures revised downward (June -36,000 and July –32,000).

Second, in August, average hourly earnings for all employees on private nonfarm payrolls decreased!

Third, the average workweek for production and nonsupervisory employees on private nonfarm payrolls edged down in August.

Fourth, the number of persons employed part time for economic reasons rose in August.

http://www.bls.gov/news.release/empsit.nr0.htm