Wednesday, July 29, 2009

United States Joblessness Rises from May-June

"More than 90 percent of the nation's largest metropolitan areas saw their unemployment rates climb in June from the previous month.

The Labor Department does not provide seasonally adjusted metro area unemployment data. It does adjust the national unemployment rate for seasonal factors. The U.S. jobless rate, which hit 9.5 percent in June, is expected to rise to 9.7 percent when the department reports the July rate next week.

Tuscaloosa, Ala., home to the University of Alabama, suffered the biggest monthly increase in unemployment from May to June. Its jobless rate jumped to 12.5 percent in June, up 3.8 percentage points."

Source: Yahoo

Continued weakness in the labour markets means reduced need for staffing. Continue to watch this situation as it may not recover in the near term, and longer term growth seems very painful.

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