The Labor Department has issued its jobs report for August, 2011. There was ZERO net job growth in the non-farm sector. That′s right! ZERO! ZERO, zip, nada! The private sector did create some 17,000 jobs, which was ′unexpectedly′ low compared to estimates ranging between 70,000 to 100,000 jobs. The government shed some 17,000 jobs, resulting in the net ZERO for August. What′s worse is that both June and July′s jobs reports were adjusted downward by some 58,000 fewer jobs than previously estimated. Remarkably, the unemployment rate remains at 9.1%, which is simply ridiculous. Barack Obama can now be called President ZERO!

president zero

Naturally, the news has markets tanking again. We were already expecting a slow day with a negative end since many investors do not want to be exposed over the long Labor Day weekend. With more fear of recession or depression, gold shot up over $50 an ounce and is around $1877 at the time I am writing this.

Today′s numbers are the worst and highlight the fact that the Obama economic agenda has been and still is a total failure. If there is a bright spot, the Obama administration has decided to back off on the EPA′s new air quality regulations which would have set the bar for ozone alerts down from 75 parts per billion to 60 parts per billion. The new meaningless standard would have cost businesses an estimated $19 billion dollars to comply.

The jobs report for August, 2011, is a pretty bad one for Barack Obama with ZERO net job growth. Yet, the unemployment rate is still 9.1%, according to the Labor Department. Considering the hoopla over his upcoming jobs speech next Thursday, set at 7pm EDT as to not interfere with NFL football, about the only thing Obama could say that would help the economy is that he is resigning. His agenda and policies have been a disaster and colossus failure. Whatever plan he thinks he has put together will undoubtedly be just more of the same. So why waste our time any further? Barack Obama is President ZERO and he needs to just resign and spare us from his further stupidity.