Washington, Sep 3(ANI): The United States has not added net new jobs in August, according to the Department of Labor's key non-farm payrolls figures.
Moreover, the unemployment rate in the country has remained from July at 9.1 percent.
Also, the figures for the previous two months were revised down to show weaker jobs growth, the BBC reports.
As opposed to an earlier estimate of 117,000 new jobs, the Labour Department now claims that only 85,000 jobs were created in July.
It also said about 20,000 jobs were created in July in contrast to the earlier estimate of 46000.
"Companies that are overall doing OK are hesitating to hire and invest further, creating some fragility for the economy.We will need some help from the Fed and the government to avoid a recession," Schroders' Global Equities head Virginie Maisonneuve said.(ANI)
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