Employment Report: 247K Jobs Lost, 9.4% Unemployment Rate
by CalculatedRisk on 8/07/2009 08:30:00 AM
Nonfarm payroll employment continued to decline in July (-247,000), and the unemployment rate was little changed at 9.4 percent, the U.S. Bureau of Labor Statistics reported today. The average monthly job loss for May through July (-331,000) was about half the average decline for November through April (-645,000). In July, job losses continued in many of the major industry sectors.
*now this is good news. Right?
10,000 here we come