Zero, Zilch, Nada, Jobs Created In August--Likely Jobs Lost--Please, No More Blather About 'Jobs Saved Or Gained'

It's September 1, 2011. Obama took office two years eight months ago, plus a few days.

It's his economy, not Bush's.

From the Bureau of Labor Statistics, today:

Nonfarm payroll employment was unchanged (0) in August, and the unemployment
rate held at 9.1 percent, the U.S. Bureau of Labor Statistics reported today.
Employment in most major industries changed little over the month. Health
care continued to add jobs, and a decline in information employment reflected
a strike. Government employment continued to trend down, despite the return
of workers from a partial government shutdown in Minnesota.

Household Survey Data

The number of unemployed persons, at 14.0 million, was essentially unchanged
in August, and the unemployment rate held at 9.1 percent. The rate has shown
little change since April. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (8.9
percent), adult women (8.0 percent), teenagers (25.4 percent), whites
(8.0 percent), blacks (16.7 percent), and Hispanics (11.3 percent) showed
little or no change in August. The jobless rate for Asians was 7.1 percent,
not seasonally adjusted. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks and over) was
about unchanged at 6.0 million in August and accounted for 42.9 percent of the
unemployed. (See table A-12.)

The labor force rose to 153.6 million in August. Both the civilian labor force
participation rate, at 64.0 percent, and the employment-population ratio, at
58.2 percent, were little changed. (See table A-1.)

Oh, by the way, the final paragraph of the report shares this gem with us:

The change in total nonfarm payroll employment for June was revised from
+46,000 to +20,000, and the change for July was revised from +117,000 to
+85,000.

20/46 is....43%. Thus that was a 57% miss on the estimate.
85/117 is...72%. Thus that was a 38% miss on the estimate.

There are people who went out and bought stocks based on those 'estimates'-- damn ya'll, there was euphoria in July!

November 2012 cannot arrive too quickly.