Susan Luzzaro 8:14 a.m., May 23
Nation Adds Only 96,000 Jobs in August
Jobs growth slowed to 96,000 in August. Economists had expected 125,000. June and July were revised lower by a total of 41,000 jobs, the government reported this morning (Sept. 7). The unemployment rate dropped to 8.1% from 8.3% in July, but that reflected 368,000 people dropping out of the labor force, reports MarketWatch. The stock market will likely rise in response to the bad news, because stocks are now inversely related to economic performance. The Federal Reserve meets next week and is highly likely to announce still another snort of liquidity -- probably a central bank bond-buying program. Earlier this week, stocks soared on expected future liquidity, or money-printing, in Europe.