August Nonfarm Payrolls Unchanged; Private Payrolls Up 17.000; Unemployment Rate At 9.1%
(For August 2011)
Nonfarm payrolls were unchanged in August; Consensus was at 60.000; July reading was an increase of 85.000 (revised down 32.000). The unemployment was reported at 9.1% vs. prior reading and consensus of 9.1%.
Private payrolls were up 17.000 vs. 95.000 consensus and 156.000 reading in July (revised up 2.000).
Large negative surprise and a confirmation of economic slowdown.
Average weekly hours worked for private employees unchanged at 34.3.
Nonfarm Payrols, U.S. Average Weekly Hours Worked, Unemployment Rate