Companies Hire Much Lower in the Third Straight Month

Private companies hired less new employees than usual at the third straight month; this effects a slow growing up of economic in the next months.

As reported by the Labor Department, the total of jobs increasing in July is 71,000 from the companies; it was a huge decreasing that before 200,000 employees needed every month to decrease the unemployment rate. There is no changing in jobless rate at 9.5%.

Generally, 131,000 jobs lost last month from the economy meanwhile the temporary census found 143,000 jobs ended.

In June, the department also revealed that the employment was also fewer than the estimation previously. In July, the jobs in private companies go down from 83,000 to 31,000. However, in May the jobs are slightly up from 33,000 to 51,000.

The unemployment rate was also unchanged at 16.5% including part time workers that prefer full time works and the unemployed workers that stop searching for a job.

About 14.6 million people were looking for a job in July. Such amount is the double sum of December 2007; at the beginning of the recession.

Yet the hiring is always done, to regain the jobs lost will take years as long as the recession. In 2008 and 2009, the economy lost 8.4 million of jobs. In this year, private companies only employed 559,000 jobs.