The federal government reported the worst unemployment number since September 2010 this morning in its jobs report, which stated that the U.S. economy added no jobs in August. The unemployment rate stayed steady at 9.1%.
As President Obama prepares to make his jobs speech next Thursday, these are very disappointing numbers that indicate that the economy is looking bleaker.
Kenneth Rogoff, professor of economics at Harvard University, weighs in on the unemployment rate today on American Morning.
"It is discouraging but it's not that surprising," Rogoff says. "We have not left the recession. I think that is the point most Americans understand"
Rogoff also weighs in on the state of the economy and what could bring relief to the American people in Obama's speech next week.
"Confidence," he says. "People and companies need confidence that this is going to turn around."