No new jobs added in August as unemployment rate holds at 9.1%

Townhall.com Staff
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Posted: Sep 02, 2011 2:08 PM
No new jobs added in August as unemployment rate holds at 9.1%

Reporting from Washington— The U.S. economy added no new jobs in August — the worst showing in a year — as employers cut back hiring and trimmed work hours of existing employees.

The latest snapshot of the labor market provided stark evidence that hiring has stalled and that the feeble economic recovery remains threatened by the unusually deep and prolonged challenges facing American workers.

Friday's report from the Labor Department intensifies the pressure on President Obama to propose a robust jobs plan when he addresses the nation next week, and could also push the Federal Reserve to take further action on interest-rate and other monetary policies when it meets later this month.