In yet another bit of bad summer economic news, the United States added no jobs overall in August and unemployment held steady at 9.1 percent.
Economists had predicted the Labor Department’s monthly report would show a modest gain of about 75,000 jobs with the unemployment rate holding steady at 9.1 percent.
The report said that the number of new jobs roughly equaled the number of jobs lost. It takes about 125,000 new jobs per month to keep the unemployment rate steady. An increase of 200,000 jobs per month would bring the rate down a percentage point over a year.
Read more at The Atlantic
We’re so totally fucked.