From the FINANCIAL TIMES:
The US economy failed to add jobs in August, according to an unrelentingly bad payrolls report, raising the stakes for Barack Obama, the US president, ahead of a crucial policy speech next week.
A feeble 17,000 new jobs created in the private sector were offset by 17,000 government job losses, confirming recent data suggesting US growth had stalled. The weak jobs data – below Wall Street estimates of a 68,000 increase – raise the chances that the US Federal Reserve will provide further monetary stimulus.
Ben Bernanke, Fed chairman, will give a speech on the economic outlook five-and-a-half hours before Mr Obama addresses a joint session of Congress on Thursday…
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