Friday, August 5, 2011

Going Forward, The Unemployment Rate Should Rise

Following this morning's reported gain of 116,000 workers in the labor force for July, a few too many on the political left were popping the champagne corks and declaring the trend is now positive for job growth. But, what most seem to be forgetting (probably, intentionally) was the Mass Layoffs report that was just issued a couple of days ago. That report from the U.S. Bureau of Labor and Statistics indicated that "announced" layoffs in the private sector rose to a 16-month high (Click here to See Story: U.S. Layoffs Soar to 16-Month High in July).

The reality is that the amount of announced layoffs seems to be accelerating and that doesn't bode well for any future unemployment reports.

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