In another round of disappointing jobs news, the Labor Department’s July unemployment report shows that the recovery remains sluggish. Here’s a roundup of stories addressing the numbers:
The Washington Post reports:
The nation’s economy continued to sputter as private-sector employers added just 71,000 jobs in July, according to a report released Friday by the Labor Department.
The small increase in private-sector employment was more than offset by the loss of 143,000 temporary Census jobs, and the nation’s unemployment rate remained unchanged at 9.5 percent. Overall, the nation shed 131,00 jobs in July.
Bloomberg commented that recovery will take time:
Joblessness, which reached a 26-year high of 10.1 percent in October, will take time to recede as the number of previously discouraged jobseekers returning to the labor force exceeds the number of available jobs.
Revisions of June’s unemployment numbers were also released. According to the Wall Street Journal:
The June data was revised down significantly. Payrolls fell 221,000 that month, more than the 125,000 drop previously reported, as only 31,000 jobs were added in the private sector.
