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.