The big economic news for today is that the jobless rate has dipped to 9.4% in July, down 0.1% from June.
Specifically, the Committee is pleased to see the efforts in key areas are working.
Employers throttled back on layoffs in July, cutting just 247,000 jobs, the fewest in a year, and the unemployment rate dipped to 9.4 percent, its first decline in 15 months.Although the unemployment number is still too high, it is headed in the right direction. This improvement is validation that the American Recovery and Reinvestment Act is working.
Specifically, the Committee is pleased to see the efforts in key areas are working.
- Modernizing our schools and universities – creating green jobs
- Investing in early education
- Helping states prevent teacher layoffs and other critical public sector jobs
- Training workers for 21st century jobs
- Creating service and volunteer opportunities to rebuild America
