Are you still JOBLESS?


According to the report of U.S government, the job market got some improvement in the month of July. The probable cause revealed by the analysis is the 1st time fall of unemployment rate since a year or more.
The Labor Department of U.S stated about all over a loss of 247,000 jobs in the month of July, which is little more since August 2008 & much lower than the expected a loss of 325,000 forecast by the U.S economists. The job loss in the month of June was also revised lower later on, stands on to 443,000 job losses from previous figure 467,000.It was noticeable that the unemployment rate got a downfall to 9.4% from 9.5% in the end of 2nd quarter of 2009 which was also lower than expected rise to 9.6% & first decline since April,2008.
The main reason behind declining labor power of U.S.A might be the idle & discouraged person who considers themselves as retired people or those people who have decided to carry on their educational life rather than seeking for jobs.
CEO of Adecco Group North America, one of the world's biggest employment consultancy & recruiting firm, Mr. Tig Gilliam has added “You can't lose jobs and have the unemployment rate decline unless folks are opting out, that means unemployment is going to go back up again”.
The greater number of workers seeking full-time job but only having part-time jobs is falling downwards by approx 191,000, or by 2%. That gives us a proper idea that those labors, who had only part-time work or were given unpaid off days during the recession period are gaining back to proper full-time status.

Retailer's fall in July


Merchants & retail chain business owners are having their worst gross monthly sales in July of this year. This might be a prior signal that the second-largest business selling season of 2009, which started in July, will be economically getting much lower than everyone expected.

The experts & sales trackers used a useful gauge to measure a retailer's  business performance through their sales at stores. This gauge is named “Same-store sales” It was found that most of the nation’s topmost retail businee chains specially mall-based retail-sellers, retail business chains for teen clothing ,big departmental stores and even discounter retailers , suffered from fall down of “same-store sales” in the month of July.

According to Thomson Reuters, who tracks “same-store sales” per month for more than 30 retail chains, total business sales for the month of July in the retail group decreased by 5.1%, with comparison to a increase of 1.1% in July 2008 .July's downfall is marked as the 11th month of sales declines. Reports said that more than 50% of the retail chain has missed their estimated sales target for the 1st month of 2nd quarter.

The business sales figures of June 2009 was the second worst monthly same-store sales decline of the year after the January's performance of decrease by 5.7%.

Some figures of July sales:

* Discounter Target (TGT, Fortune 500)'s sales by 6.5% (expected 5.8%)

* Macy's (M, Fortune 500) sales downfall by 10.7% (expected 9.1%)

* J.C. Penney’s sales downfall by 12.3% (expected 13% to 16 %.)

* Gap Inc’s sales downfall by 8%

* Abercrombie & Fitch’s sales downfall by 28%

However, Kohl’s, one of the medium-priced  business retail departmental store chain, just slipped from the downfall, having 0.4% increase in July, while Nordstrom, one of the high-end retail chain got 6.9% downfall , better than expected 11.1% .

The most probable reason which hampers the prime business sales volume in July might be the hesitation of parents, waiting to make their all school-related shopping in August as they can save money when the tax-free shopping events will be in the market.