Jobs loss
Is the recession here?
The Labor Department has reported a loss of 4,000 jobs
This will almost insure that the Federal Reserve will take some proactive measure.
Buried in the story is this nugget: “On the payrolls front, job gains in June and July turned out to be smaller. The economy added 68,000 new jobs in July compared with 92,000 reported a month ago. For June, 69,000 new jobs were created, less than the 126,000 previously reported.”
This means that the net for the three months is more like 133,000, that is, until the Labor Department increases the numbers of the jobs lost in the last month correspondingly.
