t r u t h o u t | Pace of Job Loss Slows Sharply as Unemployment Edges Down

t r u t h o u t | Pace of Job Loss Slows Sharply as Unemployment Edges Down: "The economy lost 247,000 jobs in July, bringing the rate of job loss over the last three months to 331,000. This is down sharply from the 700,000 monthly rate of decline in the months from November to February. The unemployment rate actually slid slightly to 9.4 percent, although this was entirely attributable to people dropping out of the workforce. The employment-to-population ratio fell by 0.1 percentage point to 59.4 percent, four full percentage points below the prerecession peak."