The Labor Department reported that nonfarm payrolls fell 131,000 in July after a downwardly revised loss of 221,000 in June, largely due to government Census workers being let go. The private sector added 71,000 jobs and the unemployment rate held steady at 9.5 percent...
The U-6 underemployment rate (including marginally attached workers and those settling for part-time work instead of full-time work) held steady at 16.5 percent in July and there were a total of 14.6 million people looking for work in what has to be considered a roundly disappointing report.
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