Friday, August 2, 2013

Employment continues to grow too slowly

The BEA released its Employment Situation Summary. Only 162,000 new jobs created, when need more like 400,000 per month for a healthy recovery. Unemployment rate fell to 7.4%, nut mostly for the wrong reasons, that is people leaving the labor force. Graph below shows the steady and slow recovery.
Still below the employment levels of before the crisis. And things are going to get worse in the next couple of months with more pressures, associated to the debt-ceiling again, for fiscal spending cuts.

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