467,000 jobs lost in May
By anthony balderrama on Jul 2, 2009 in Employment Trends, Featured, Job Search, Jobs, News
The job loss numbers released by the Bureau of Labor Statistics this morning show that 467,000 jobs were lost in May. That is up from the revised total of 322,000 jobs lost in April. Of course that’s not welcome news. However, we’re not at the painfully astronomic levels of a few months ago, when we were in the 600,000 range.
So what should you make of it?
Well, it’s a mixed bag. We’re not out of the woods yet. When you realize that a couple of years ago we were creating hundreds of thousands of jobs per month, we still have a long way to go. But we were keeping the numbers significantly lower than they were in November and December. Many analysts agree that we’re trudging along and shouldn’t expect significant job growth in the immediate future, but there’s a chance we’ve bottomed out (or are at least hovering near the lowest point).
The New York Times has a good analysis of the situation.
As the numbers are revised and we can take a more detailed look at industries, we’ll let you know.
Max Whitson | Jul 7, 2009 | Reply
It has been reported that the unemployment rate for June is now at 9.5% This is not good for the American economy.
We also have several American businesses including GM that are going down which will really put a damper on unemployment.