U.S. labour market shrinks again in July

The number of working Americans continued to decline in July, the nation's Labor Department reported on Friday, despite the first drop in the jobless rate in more than a year.

The U.S. Labor Department said non-farm payrolls lost another 44,000 jobs in July following a loss of 72,000 in June.

Economists expected to see job gains, with estimates ranging from 10,000 to 100,000.

However, the jobless rate fell for the first time in more than a year, to 6.2 per cent from 6.4 per cent in June.

The seemingly contradictory numbers are reconciled by the fact that the overall U.S. labour force contracted in July by 556,000 people.

"Job losses persisted in manufacturing and a number of other industries," U.S. labour commissioner Kathleen Utgoff said in a statement.

Offsetting losses at the nation's factories were gains in temporary help and other service industries.

The manufacturing sector lost another 71,000 jobs in July, with the largest decline found in transportation equipment.

The languishing air transportation sector continued to weaken, shedding another 9,000 positions.

On the plus side, the temporary service sector has added 122,000 jobs since April.

Expectations were for a stronger number considering other indications this week that the world's largest economy is ramping up for a long overdue recovery in the second half of the year.

On Thursday, the U.S. Department of Commerce reported that the nation's economy grew by an annualized 2.4 per cent in the second quarter. The consensus forecast was for growth of only 1.5 per cent.

Earlier in the week, the U.S. Federal Reserve reported that 10 of its 12 regional banks saw signs of improvement in June and July.

Here is something interesting for you.

An article on the Kyoto treaty says it will do this:

If the U.S. agrees to adhere to new regulations under the treaty, while emerging economies are exempted, global warming hysteria will:

1.Increase the cost of living, forcing U.S. consumers to pay more for electricity (40-50 percent in some parts of the country) and other consumer goods, since electricity costs are reflected in the production costs of almost all goods and services;

2.Reduce American wages each year by 5 percent to 10 percent;

3.Devastate strategic U.S. industries, such as the steel, aluminum, chemical, pulp and paper, coal and cement industries, which also includes many large employers;

4.Encourage energy-intensive U.S. industries to move out of the U.S. to exempted countries like Mexico and Indonesia -- to any country beyond the reach of America's environmental police -- causing the additional loss of tens of thousands of high-skilled, high-wage jobs.

Even the Kyoto treaty has not been ratified, it sure is odd that all this is happening in spite of this treaty not getting "ratified".

http://www.annapolisinstitute.net/archives/commentary/pb1997331.html

Promoting sustainable development--Everything Must Change, according to USAID administrator J. Brian Atwood. The pursuit of "sustainable development" will require nothing less than a "comprehensive revision of institutions, practices, and attitudes on the part of every human being." The result of this plan is "downward harmonization" - the reversal of U.S. living standards to the conditions existing in most Third World countries.

http://www.tribulationalinstitute.com/usaid_and_world_bank_unite_churc.htm

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