The US Department of Labor has released it’s monthly Jobs Report for the month of July. Unemployment in the US has risen from 8.2% to 8.3% in July. The economy added 163,000 jobs throughout the month.
The report cites the number of unemployed at 12.8 million, however there are an additional 2.5 million people who are not being counted in this number. The 2.5 million are what the Labor Department calls “marginally attached to the labor force” – which includes “discouraged workers”. Of this 2.5 million, 852,000 people are not currently looking for work because they believe no jobs are available for them, while the remaining 1.7 million “marginally attached” people had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.
On Saturday, August 4th, CDN will be speaking with Paul T. Conway about this jobs report. Mr. Conway is the former Labor Department Chief of Staff and the President of Generation Opportunity.