No new jobs added in August : US Economy

The US economy added no net new jobs in August, according to the key non-farm payrolls figures from the Department of Labor.

The previous month's figure was revised downwards - it now shows that 85,000 jobs were created, down from 117,000 in the previous estimate.

The August number was much worse than had been expected - the predicted figure was an addition of about 70,000.

The unemployment rate remained unchanged from July at 9.1%.

Global stock markets had been lower all day on Friday ahead of the numbers and they fell further after the publication.

It is the first time since 1945 that there has been a zero payrolls figure.

A strike by 45,000 Verizon workers reduced the figure, as striking workers do not appear on payrolls, although those employees have now returned to work.

Average hourly earnings fell by 3 cents to $23.09.