August Jobs Numbers Disappoint

Morning Money Memo…

ABC News' John Kapetaneas reports:

August jobs numbers fell below expectations as the economy added 142,000 new jobs last month, falling below the 200,000 projected. It is the first time in seven months that the U.S. economy has failed to add at least 200,000 jobs in a given month, and far below the 12-month average of 212,000. The unemployment rate fell slightly to 6.1 percent, while total long-term unemployed declined by 192,000.

BP Troubles

BP soon might be ordered to pay out big fines. Four years after the Deepwater Horizon tragedy that claimed 11 lives and sent millions of barrels of oil into the Gulf of Mexico, a federal judge Thursday determined the company was "grossly negligent" and primarily responsible for the spill. The ruling opened the oil giant up to an estimated $18 billion in new penalties after the company has already spent roughly $28 billion on damages and cleanup costs. BP's stock fell 6 percent Thursday.

Markets Fall

Worldwide markets were lower this morning going into the final trading day of the week. European markets were lower despite Thursday's strong rally spurned on by the ECB's surprising interest rate cut. U.S. futures were down slightly as of 9 a.m. after finishing the day marginally lower Thursday.

Apple Boosts Security

Apple is fighting back against potential future hackers. Just days before the company's highly anticipated, rumor-laden media event on Sept. 9, the company has announced measures to fortify users' passwords and minimize any potential breaches. CEO Tim Cook told the Wall Street Journal that additional steps, including email and push notifications, will be implemented whenever someone attempts to change a user's account settings. The company also attributed the "Celebgate" breach to a phishing scam, maintaining that Apple servers were not compromised. Apple stock was down 4 percent in the last week.

Jeans Sag

Are your jeans falling out of favor? U.S. jeans sales have fallen 6 percent in the last year as yoga pants and leggings take a more prominent place in the American consumer's closet. The 141-year-old denim jean long has been a staple in American wardrobes, seeing increased popularity in the '50s and '60s, but have also has seen declining sales in past decades amid other materials and styles, including corduroys and khakis. Some jean-makers have attempted to keep up with the increasing trend of athletic wear, marketing new brands of stretchy jeans meant to mimic the popular yoga-pants style.