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Data released by the Labor Department shows that no jobs were added to the US economy in August.
Statistics released on Friday show that no jobs were added to the US economy in August. The unemployment rate remained at 9.1 percent, with roughly 14 million jobless Americans. This is the first stagnation in payroll figures since 1945. The news comes as a shock as the markets expected 70,000 new jobs. US markets opened sharply lower on Friday with stock futures down and treasuries rallying on concerns of another recession.
Read the Bloomberg report on these developments.