The US unemployment rate for August crawl 9.6% essentially flat for the third month in a row. The Department of Labor says 54,000 non-payroll jobs eliminated. This is the same level of jobs terminated in July revised from 131,000.
Here is good news sort of 54,000 job losses was half of the expected 110,000 losses by economists surveyed by the Wall Street Journal.
President Obama says the country is “…heading in the right direction.” In press conference in the Rose Garden with his economic staff. He pressured the Republicans to pass his tax cut for small businesses proposal after Labor Day.
Wall Street Journal is the rest of the story.