US economy still in crisis as job growth stalls

The non-farm payroll figures released today showed no new jobs were created, against a consensus expectation of about 75,000 new jobs. It is sharply down on July's figure when 117,000 jobs were added. However, the unemployment rate held at 9.1% or 14 million. According to the data from the US Bureau of Labor Statistics, hours worked and average earnings both fell, while the number of part time workers increased by 400,000. Following the announcement, the major indices in the US plunged on opening, with the S&P 500 down 2.1% to 1,179 and the Dow falling 2.1% to 11,251. European m...