Pretty Impressive..



US economy created no job growth in August, data show.
First time since 1945 that government has reported net monthly job change of zero.

Employment growth ground to a halt in August, as sagging consumer confidence discouraged already skittish U.S. businesses from hiring, keeping pressure on the Federal Reserve to provide more monetary stimulus to aid the struggling economy.

Nonfarm payrolls were unchanged last month, the Labor Department said Friday. It was the first time since 1945 that the government has reported a net monthly job change of zero. The August payrolls report was the worst since September 2010, while nonfarm employment for June and July was revised to show 58,000 fewer jobs.

“The bottom line is this is bad,” Diane Swonk, chief economist with financial services firm Mesirow Financial, told CNBC Friday.

Despite the lack of employment growth, the jobless rate held steady at 9.1 percent in August. The unemployment rate is derived from a separate survey of households, which showed an increase in employment and a tick up in the labor force participation rate.


http://www.msnbc.msn.com/id/44370462/ns/business/#.TmDms44dj64

AT least it is not on the rise anymore, just 1.5 percent more than it was in January of 2009...its slowly coming back,,,more slowly than wished, but slowly still

I guess that is the glass is half full way of looking at it.

we have 22 pc here without jobs

I'm not sure, but the real situation may be a bit worse than the reported flat unemployment rate.

My understanding is that the unemployment rate is calculated as the number of persons who do not have a job but are actively looking for work divided by the number of persons in the labor force.

The key part there was "in the labor force". Those who are permanently disabled are not considered to be "in the labor force".

We may not have noticed an increase in disabled persons, but there has been a HUGE increase in those filing for and getting benefits. Economists fear that these recipients are unlikely ever to return to the labor force (for fear of losing the benefits, including government-provided health insurance). But the takeaway here is that unemployment statistics do not include these people leaving the work force.

So I think it's worse than you think.

The actual unemployment rate is 16.2%. That was in another article I read this morning.

They don't count people that have quit looking for jobs entirely in the 9.1%.

With part-time and underemployed you can add another 5% or 6%.

I keep very busy taking care of my father and my Mom, doing my art, doing process service, building websites.

One day my mom told me I should get a job.

I told her "I'm too busy to get a job. I don't have any free time.

I don't know where they really get their numbers, but there are jobs to be had. People are still hiring.

I tell people I'm not "employed", I'm "occupied."

the unemployment rate is figured the same today as it was four or even eight years ago, so the RATE of change would be accurate still