Employment – no surprise |

Employment – no surprise

Unless you live in an extremely sheltered community, signs of difficult times are hard to miss. In New York City, there are stores closed on virtually every block along Madison Avenue.

From BLS:

Total nonfarm payroll employment declined by 131,000 in July, and the unemployment rate was unchanged at 9.5 percent. Federal government employment fell, as 143,000 temporary workers hired for the decennial census completed their work.
Private-sector payroll employment edged up by 71,000.

There’s some good news in this release: government employment fell and private sector employment edged up. Can’t complain about that one. One other side note: temporary hiring was unchanged. Many people view temp hiring as a leading indicator and it had been rising in the past couple of months. This might just be a summer blip, but worth noting.

Last 5 posts by Yaron Sadan

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