BY: Adam Gavriel
The United States Bureau of Labor Statistics released the July unemployment this morning at 9.1% a .1% decrease from the June number of 9.2% Even though approximately 117,000 jobs were added to the workforce expert analysts believe that the number of hirings would have to double in order to have a significant impact on the unemployment number.
Most of the job gains occurred in health care, retail, manufacturing, and mining. Government employment continued its downward trend.
All figures of unemployment among major work groups showed little or no change in July. Adult men at 9% adult women at 7.9% and teenagers at 25% The number of long term unemployed workers (27 weeks or more) settled at 6.2 million in July.
Employment in technical services and professional skills continued its upward trend in July by adding 18,000 jobs to their workforce; while the downturn in government jobs dropped 37,000.
With unemployment unable to get below 9% and a declining stock market Americans should begin preparing for these troubles to be here for a while as what has been deemed the “Great Recession” is bound to continue. The Dow Jones which was operating at 12,248 on August 1sthas continued its downward spiral so far this month, and the unemployment numbers will surely contribute to another fall as the Dow Jones threatens to dip below 11K for the first time since October 2010.
Even though the economy created 117,000 jobs in July it was only enough to lower the unemployment rate 0.1% and unable to settle the market which continues to free fall today.
As we’ve reported here before the higher the unemployment, the more competition for jobs there will be. At Crossroads Consulting we aim to get the best out of your abilities that we can for you. With our interview preparation and resume optimization serviceswe’re ready to make sure you’re prepared to get the most out of searching for a job that you can.
Although based in the CT area we have job listings from across the United States from New York to California to all across the Midwest. Take a trip over to our website and see how we can help you today.