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Unemployment unexpectedly fell in July
Staff Reporter | Posted August 7, 2009 8:52 AM
Meanwhile, black unemployment fell for the third straight month in July, although the rate remained much higher than overall unemployment.
Economists told the New York Times that President Obama's $787 billion stimulus package "has helped blunt the downturn in limited but discernible ways."
The nation lost 247,000 jobs in July, according to the U.S. Bureau of Labor Statistics, but the job losses were much smaller than at the height of the recession from November through April, when the economy shed 645,000 jobs a month.
Black unemployment fell slightly in July from 14.7 percent to 14.5 percent the month before, marking the third straight month of declines in the rate, according to the Labor Department.
Black unemployment was significantly higher than white unemployment (8.6 percent) and two points higher than the Hispanic unemployment rate (12.3 percent).
Articles written by a Staff Reporter are unsigned reports from a member of the staff.
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