July’s Economic News Better Than June’s!

The economy fared better in July than it did in June.  117,000 jobs were added in July as opposed to only 18,000 in June.  Also, the unemployment rate inched down one tenth of one percent from 9.2 percent in June to 9.1 percent in July.

In order to substantially reduce unemployment 250,000 jobs a month would be need to be added to bring the unemployment rate down quickly.  As you can see, we are nowhere near that level.

In August we will have to wait and see if the reduction of the U.S.credit rating and Thursday’s stock market plunge will have an adverse effect on job creation and unemployment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s