Art by Stephen PowersVideo below
Obama is expected to speak at 1:30 eastern in the Rose Garden (it should be live streamed at cnn.com)
Economists were expecting larger than reported unemployment for July -- good news. They had been expecting 300,000 jobs lost and there were actually 247,000, which meant fewer layoffs. Also good news, stocks are up. Get more analysis here. The unemployment rate fell a teensy bit to 9.4% but the bad news is the unemployment rate is expected to get to 10%. But who knows, we could be surprised.
From the Department of Labor:
Obama is expected to speak at 1:30 eastern in the Rose Garden (it should be live streamed at cnn.com)
Economists were expecting larger than reported unemployment for July -- good news. They had been expecting 300,000 jobs lost and there were actually 247,000, which meant fewer layoffs. Also good news, stocks are up. Get more analysis here. The unemployment rate fell a teensy bit to 9.4% but the bad news is the unemployment rate is expected to get to 10%. But who knows, we could be surprised.
From the Department of Labor:
Nonfarm payroll employment continued to decline in July (-247,000),
and the unemployment rate was little changed at 9.4 percent, the U.S.
Bureau of Labor Statistics reported today. The average monthly job
loss for May through July (-331,000) was about half the average
decline for November through April (-645,000). In July, job losses
continued in many of the major industry sectors.
Household Survey Data
In July, the number of unemployed persons was 14.5 million. The
unemployment rate was 9.4 percent, little changed for the second
consecutive month. (See table A-1.)
