Latest Job Data: July 2008 summary

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The Bureau of Labor Statistics released its monthly summary of job data for July 2008.

Among the most notable items in the report:

  • Unemployment rose from 5.5% in June to 5.7% in July.
  • There were 51,000 fewer jobs in July. Total job loss for 2008 so far is 463,000. That is an average of 66,000 jobs lost per month.
  • The most notable losses were in construction, manufacturing and employment services. The drop for employment services indicates far fewer companies are using temporary help.
  • The report also mentioned that teenagers and young adults who usually take on part-time jobs during the summer have had challenges in finding a job this year.

You can see the entire press release here.

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