117,000 New Jobs Added in July 2011
After yesterday’s gloom and doom and stock market sell-off, we have some good news.
The July 2011 Job’s Report showed 117,000 new jobs were created last month more than anticipated. And the unemployment rate dropped to 9.1 (small decrease from 9.2%).
Private Sector companies actually added 154,000 jobs but due to layoffs the number was reduced. In order to make a dent in the unemployment rate, we need to add over 125,000 new jobs each month.