Job growth grinds to a halt
By Lucia Mutikani | Reuters – 16 mins ago
WASHINGTON (Reuters) - 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 economy.
Nonfarm payrolls were unchanged, the Labor Department said on Friday, the weakest reading since September. Nonfarm employment for June and July was revised to show 58,000 fewer jobs.
Despite the lack of employment growth, the jobless rate held steady at 9.1 percent. 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.