Job growth was unchanged in August, the weakest performance in almost a year, the Labor Department said Friday. The weak report was lower than the 53,000 gain expected by Wall Street economists. A strike at Verizon Communications Inc /quotes/zigman/262341/quotes/nls/vz VZ -0.29% cut 45,000 from payrolls in the month. The unemployment rate held steady at 9.1% as expected. Average hourly earnings decreased 0.1% to $23.09. Economists had been expecting a 0.1% gain. Earnings are up only 1.9% in the past year. The average workweek fell six minutes to 34.2 hours.
And it was the first time since 1945 that there was zero job growth (MSNBC).
Nonfarm payrolls were unchanged last month, the Labor Department said Friday. It was the first time since 1945 that the government has reported a net monthly job change of zero. The August payrolls report was the worst since September 2010, while nonfarm employment for June and July was revised to show 58,000 fewer jobs.
And yet Obama wants to speak about creating more jobs next week?
Would you buy a used car from Richard Milhous Obama?
One more note....compared to the last period of zero job growth in 1945, the difference between then and now is that we were near full employment in 1945 (less than five percent).