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EMPLOYMENT
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National jobs report shows fewest losses in a year

Only 240,000 jobs were lost in July, just shy of half of June’s adjusted numbers and a fraction of January’s high.

By Susan BelknappPublished: August 06, 2009 11:04 AM

The national jobs report released this morning was expected to show positive signs for the economy; the reality proved even better. Forecasters predicted July’s job loss numbers would be around 320,000. The actual total: 247,000, fewest in a year.

The unemployment rate, which was expected to climb, actually dipped down, to 9.4 percent, from 9.5 percent in June. Analysts believe these numbers are a strong indicator that the recession is coming to an end.  

Other positives in the report are a slight increase in workers’ hours and wages, which had been falling or stagnant in June.

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