Friday, July 5, 2013

Job market still indicates slow recovery

Bureau of Labor Statistics (BLS) released the data on the job market today. From the report: "Total nonfarm payroll employment increased by 195,000 in June, and the unemployment rate was unchanged at 7.6 percent. Employment rose in leisure and hospitality, professional and business services, retail trade, health care, and financial activities." At this pace, the recovery will take a whole 10 years to recover from the 2007-8 recession. Yes employment levels will surpass previous peak in 2017. We need around double that number (400,000 jobs per month), at least, for a healthy recovery.

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