On Friday, government report on hiring announced that the unemployment rate, at 9.1%, did not change last month, and the economy did not add any jobs during the month of August.
Next week, President Barack Obama is going to deliver an address to a joint session of Congress that will lay out his jobs plan. He is expected to propose tax incentives that will promote hiring and infrastructure spending.
The new data sent stocks tumbling. The Dow Jones industrial average fell 2.2% Friday.
Despite the steadiness of the unemployment rate, the rate is lower than it was last year at this time.
Related articles
- Job growth, unemployment rate stall in August (oregonlive.com)
- Hiring Standstill Points to Growing Recession Risk (abcnews.go.com)
- Employers add no net jobs in Aug.; rate unchanged (boston.com)
- Employers add no net jobs in Aug.; rate unchanged (seattlepi.com)
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