- U.S. non-farm payrolls fell 4,000 in August, the first decline in four years. Payrolls for June and July were reduced by 81,000. Most job losses came from the auto and construction sectors.
- The weak U.S. housing sector warrants close attention to assess the economic outlook as well as its recent disruptive effects on financial markets, Philadelphia Federal Reserve Bank President Charles Plosser said on Saturday.
- Struggling lender Countrywide Financial will cut 12,000 jobs as it struggles to deal with challenging conditions in the mortgage industry, the company said.
- Canada’s unemployment rate was unchanged at 6.0% in August, still the lowest in 33 years.
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