Friday, September 7, 2007

No Net Job Growth in August

The AP is reporting that employers dropped 4,000 net jobs in August. Huge gains in education, retail, and healthcare where overshadowed by losses in various manual labor sectors and government jobs.

It's really quite amazing what around 1% of the mortgage industry-- and prior to that, the fed's excess money supply- can do to the rest of the economy.

Unemployment as a whole remains a healthy 4.6%, and August showed reasonable wage gains.

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