Glass Half Full: Zero jobs growth but not necessarily recession

The news Friday that the economy created zero jobs in August is ominous, but it doesn't necessarily mean we're heading for another recession.

“Most of the releases that came out earlier in the week were a little bit better than generally expected and this one was a little bit worse,” said Mike Montgomery, U.S. macro economist with IHS Global Insight.

Instead, Montgomery said the weak employment report could be yet another sign that the U.S. is continuing to muddle through some serious economic doldrums. That may be better than a recession, but it's still an extremely unpleasant prospect for the many Americans who have been out of work for months or even years.

The jobs report came on the heels of recent economic indicators pointing to a troubled — but not necessarily recessionary — economy. The employment figures were affected slightly by a strike at Verizon, which took 45,000 people off the employment rolls for the month. But another 22,000 workers returned to the employment books because a government shutdown in Minnesota ended.

There's more at http://www.msnbc.msn.com/id/44372510/ns/business-eye_on_the_economy/