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.
