Jobless rate rises to 4-year high of 5.7 percent

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The nation's unemployment rate climbed to a four-year high of 5.7 percent in July as employers cut 51,000 jobs.

...

July's reductions marked the seventh straight month where employers eliminated jobs. So far, this year, the economy has lost a total of 463,00 jobs.

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The unemployment rate for teenagers jumped to 20.3 percent, the highest since late 1992.

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Job losses in July were the heaviest in industries hard hit by the housing, credit and financial debacles. Manufacturers cut 35,000 positions, construction companies got rid of 22,000 and retailers shed 17,000 jobs. Those losses swamped job gains elsewhere, including in the government, education and health care.

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Still, workers saw wage gains in July.

Average hourly earnings rose to $18.06 in July, a 0.3 percent increase from the previous month.

http://ap.google.com/article/ALeqM5jsanM66...vWS7zAD929GEQ80

[peejay 327]

And still the Wall Street Journal, the US Chamber of Commerce, Bill Gates, LaRaza, MALDEF, etc. clamor for more guest workers and howl about the labor shortages. There is no labor shortage...there's only a cheap labor shortage.

[amiquechu 0]

It's all GW's fault.

[AlHayatZween 2]

And still the Wall Street Journal, the US Chamber of Commerce, Bill Gates, LaRaza, MALDEF, etc. clamor for more guest workers and howl about the labor shortages. There is no labor shortage...there's only a cheap labor shortage.

my husband will work for cheap if anyone's hiring!

will work for peace of mind!