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AltheaA

U.S. unemployment rate goes back after taking a step forward

The U.S. unemployment rate reports from July show good and bad news. The unemployment rate has stayed the same at around 9.5 percent. More jobs are lost than was expected by experts. In July alone, 71,000 jobs were created when 131,000 were lost. As the lowest edition of the year, manufacturing added 36,000 new jobs. More money was made by people working more hours which increased probability. Because productivity is great right now, nobody wants to hire. Source for this article - U.S. unemployment rate takes one step forward, two steps back by Personal Money Store

Unemployment rate won't move either way

More workers were added to companies in July. The number of jobs being gained each month is 100,000 despite the fact that that is not enough to balance the amount being lost each month which is more than that, reports the Wall Street Journal. Jobs report data for June was also revised downward. 221,000 jobs a month were reported to be lost in June, which is 125,000 more than before. 31,000 private sector jobs were created in June. The Dow Jones Newswires were expecting a 60,000 job loss in July, which really ended up being 131,000.


Employed individuals glad with the work they're doing for the economy


July's jobs report did contain a few bright spots. Daily Finance reports that the average workweek increased by 0.1 hours to 34.2 hours. Hourly earnings are up to $ 22.59 per hour, which is a 4 cent increase. Productivity is doing well with a 3 percent increase within the last 12 months and a 4 percent increase in 2010's first quarter. Productivity being up means companies are doing better with their earnings. Money sitting around is fairly normal right about now for companies. High productivity and more efficient business models are good for stock prices, but that means numerous companies do not feel they have to hire more workers.

Fed ponders what to do about unemployment

The unemployment rate could be changed depending on what the jobs report influences the Federal Reserve to do. Reserve deposit rates might drop passed the 0.25 percent rate as a possible solution, reports Bloomberg in an interview with Fed chairman Ben Bernanke. Another choice might be to help hold down borrowing costs by getting more assets although the Fed already has a $ 2.3 trillion balance sheet.

Americans mad about unemployment

Public opinions are on both ends of the good and bad news spectrum. More than seven in 10 Americans say the U.S. economy is still mired in recession, as outlined by a Bloomberg National Poll. Seven out of ten individuals also answered that the government should be working on unemployment before anything else. You will find at least half of the people that answered believing the stimulus program won't work with all the extra spending going on.

Find more information on this subject


Wall Street Journal

online.wsj.com/article/SB10001424052748703309704575412990024153682.html?mod=googlenews_wsj

Daily Finance

dailyfinance.com/story/careers/july-jobs-report-unemployment-remains-high/19583596/

Bloomberg

bloomberg.com/news/2010-08-06/company-payrolls-rose-by-71-000-in-july-u-s-jobless-rate-9-5-.html
CJ

Some cities have unemployment somewhere near 50%
Its bad and getting worse

what the govt calls 'new jobs' is such a lie!

The stimulus money which is 'missing' went into Medicaid / Medicare



.
BornAgain2

CJ wrote:
Some cities have unemployment somewhere near 50%
Its bad and getting worse

what the govt calls 'new jobs' is such a lie!

The stimulus money which is 'missing' went into Medicaid / Medicare



.


I can account for that at least in my metroplex - I'm in the Accounting field, and I can't even come close to finding anything anymore. I'm going back to school part-time this Fall just so that I'll have SOMETHING to do and not sit around the house all day.

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