Job Growth Numbers for July 2010
There were more jobs lost than expected in July, with the unemployment rate holding at 9.5%. The 131,000 jobs lost, in addition to the 6.6 million people (45% of Americans) who said they were out of work for more than six months or more, may be a sign that the economic recovery, said to have begun in July 2009, continues to lose momentum. According to The Wall Street Journal, when also considering the revisions to unemployment summaries of prior months this year, "...the U.S. economy added an average of less than 100,000 jobs a month in the first seven months, a level that's not strong enough to bring unemployment down."
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