Non-farm payrolls fell by 247,000 in July, the Labor Department reported this morning, far fewer than many economists had anticipated and the unemployment rate dipped to 9.4 percent from 9.5 percent the previous month. That compares to a drop in non-farm payrolls of 467,000 in June.
Posted Jul 06 2009, 01:16 PM by Anthony Mirhaydari
Really, how hard is it to find a job? Was June’s horrid numbers, in which 467,000 people lost their jobs compared to 345,000 in May, a one-time fluke? Or does it mean that all those Wall Street economists who believe the economic recovery is starting are dead wrong?
Buy – Steve Clemons
Each month, I receive from Leo Hindery an update on “America’s effective unemployment rate” which includes not only the official unemployment figures but other data points showing off-the-books unemployed or underemployed people.
