Grim data show only 96,000 jobs added |
| Financial Times - Sep 7, 2012 |
The US created only 96,000 jobs in August, cementing the struggling economy as the core issue of the presidential election and heralding aggressive action by the US Federal Reserve next week.
The poor figures sapped any energy Barack Obama might have carried from the Democratic convention which concluded on Thursday night and added momentum to Mitt Romney’s campaign in an already close election.
The data for June and July were both revised downwards and the August number was well below market expectations of 130,000, showing a complete lack of momentum in the US labour market.
“If last night [at the Democratic convention] was the party, this morning is the hangover,” said Mr Romney. “For every net new job created, nearly four Americans gave up looking for work entirely.”
Read Full Article from Financial Times
- Posted: 2012-09-07 16:21:02
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