U.S. Unemployment Holds Steady at 9.1%

Markets will likely be disappointed today as the Non-Farm Payroll report suggests job creation in the U.S. has stalled. After an 85,000 gain in July, August’s reading showed no increase in net new jobs leaving the unemployment rate at 9.1 percent.

“Net employment flat-lined in August,” Ellen Zentner, a senior U.S. economist at Nomura Securities International Inc. in New York said before the report. “When the outlook is uncertain, businesses don’t hire. Calls that we’re on the cusp of a recession or already there are not completely unwarranted.”

Source: Bloomberg

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