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August jobs report shows no net gain
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| Contributor | Imperator |
| Last Edited | Imperator Sep 02, 2011 09:04am |
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| Category | Report |
| Author | MACKENZIE WEINGER |
| News Date | Friday, September 2, 2011 03:00:00 PM UTC0:0 |
| Description | This is not what President Barack Obama wanted to hear.
In the weakest jobs report in a year, the economy added no net jobs in August, while the nation’s 9.1 percent unemployment rate remained unchanged, the Labor Department announced on Friday.
Obama, who plans to deliver a major jobs speech on Thursday, was not expected to comment on the disappointing numbers. He has no public appearances scheduled and is set to leave on Friday for Camp David for the weekend.
The news sent the Dow Jones Industrial Average plummeting on the market’s opening, dropping more than 200 points in the first few minutes of trading.
The employment report was the weakest since September 2010, when there was a slight decline in the numbers of jobs created, the Associated Press said.
Republicans immediately took aim at Obama, who recent polls show has lost the confidence of a majority of the American people in his handling of the economy.
“Today’s unemployment numbers are another painful reminder that America still awaits economic leadership from President Obama,” Republican National Committee chair Reince Priebus said in a statement. “He spent his summer fundraising and golfing, promising to lay out a jobs plan only after his Martha’s Vineyard vacation—all while nearly 14 million Americans remained jobless.”
“If the President refuses to change course, America’s unemployed with be the victims of his failure,” Priebus added. |
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