Dismal August Jobs Report At a Glance
The economy added zero jobs in August, according to the latest figures from the Bureau of Labor Statistics. The overall unemployment rate remains at 9.1%. Minorities and youth are suffering disproportionately: 8% whites, 16.7% of blacks, 11.3% of Hispanics, and 25.4% of teenagers are unemployed, just like last month.
The 45,000 striking Verizon workers may have edged the numbers up slightly, but the fact remains that private sector job growth is the slowest it has been since last May, even if you take the strikers into account.
The private sector added about 17,000 jobs last month, but the public sector cut about the same number.
Happy Labor Day, everyone.
[Photo credit: Kieran Bennett, Creative Commons.]