Thursday, July 03, 2008

The Latest Employment Report Confirms we Are in A Recession

The graph shows the trend in the percent of American adults who have jobs. Click on the graph to enlarge it.

The Bureau of Labor Statistics issued a employment report this morning that confirmed the national economy is in recession. In June, the Bureau's survey of firms showed them with 61,000 fewer jobs. The national unemployment rate held steady at 5.5%, which is 1.2 percentage points higher than in March, 2007. The most recent data for Wichita shows our unemployment rate (3.5%) two whole percentage points below the national average.

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