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Economy Gains No Jobs in August, Fueling Recession Fears

Posted By admin On September 2, 2011 @ 8:24 am In Featured Stories,Money Watch,Tile | Comments Disabled

CNBC [1]
Friday, September 2, 2011

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.

It was the first time since World War II that the economy had precisely 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 recession.

Stocks sold off sharply [2] following the report, while bond prices rose and the US dollar fell nearly 2 percent against the Swiss franc.

Full story here. [1]


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URL to article: http://www.prisonplanet.com/economy-gains-no-jobs-in-august-fueling-recession-fears.html

URLs in this post:

[1] CNBC: http://www.cnbc.com/id/44370439

[2] Stocks sold off sharply: http://www.cnbc.com/id/44369704/

[3] Spain’s economy plunges into recession: http://www.prisonplanet.com/spains-economy-plunges-into-recession.html

[4] Fears Grow Over Double-Dip Recession: http://www.prisonplanet.com/fears-grow-over-double-dip-recession.html

[5] 95 Percent Of The Jobs Lost During The Recession Were Middle Class Jobs: http://www.prisonplanet.com/95-percent-of-the-jobs-lost-during-the-recession-were-middle-class-jobs.html

[6] Stocks Plunge On Recession Fears: http://www.prisonplanet.com/stocks-plunge-on-recession-fears.html

[7] Global Recession Fears Drive Sell-Off: http://www.prisonplanet.com/global-recession-fears-drive-sell-off.html

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