Jobless rate rose to 5.7% but only 51,000 jobs were lost. I say "only" becuase we were expecting numbers to be even worse. The BLS adjustments were -1,458 in July. But "Seasonly Adjustment" seems to have saved the day here.
Of course, the numbers are grim. Look at the Not in labor force details and you see why. There is a 25% increase (From July 2007) of people who are not in labor force because they are too discouraged over job prospects.
Discouragement over job prospects (2)........... 367 461
More people are working two jobs.
Primary job full time, secondary job part time..... 3,996 4,149
And remember the higher levels of umemployment remeber much longer after the recession.
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