Employment to Population Ratio

Employment to Population Ratio

Although the unemployment rate inched up in July, Friday's unemployment report from the Bureau of Labor Statistics was a welcome reprieve following three months of disappointing jobs numbers.  A mere 0.037 percentage points were added to the overall unemployment rate, rounding it up to 8.3 percent.  Hints of growth in professional and business services, leisure and hospitality, and manufacturing put the job market ahead of expectations, despite the news of weakening GDP growth for the quarter reported in the previous week.  But while the addition of 163,000 jobs in July pulls the US economy from the precipice of a labor market back-slide, it is not a sign of strong recovery in the jobs market.  With a monthly average of about 151,000 jobs added to the economy in 2012, the market is barely keeping up with population growth and not offering any inspiration for discouraged workers to return labor pool.  

Continue reading the Young Adult Employment Report for July 2012 >>>