Graph of the Day for August 12, 2010

"But we can't stand by and do nothing while pink slips are given to the men and women who educate our children or keep our communities safe.  That doesn't make sense.  And that's why a significant part of the economic plan that we passed last year provided relief for struggling states -- relief that has already prevented hundreds of thousands of layoffs.

And that's why today we're trying to pass a law that will save hundreds of thousands of additional jobs in the coming year.President Obama, August 10, 2010

Source:  Business Insider.

Hoven's Index for August 12, 2010

Changes in number of jobs, Dec. 2007 to July 2010:

Total non-farm:  -7,709,000 (-5.6%)

Government:   +128,000 (+0.6%)

Education & health:  +999,000 (+5.4%)

Total private industry:  -7,837,000 (-6.8%)

Construction:  -1,918,000 (-25.6%)

Total non-farm job losses in last month (July, 2010):  131,000

Job losses in last two months:  352,000

Source:  St. Louis Fed/FRED.

Graph of the Day Archive.