Another 131,000 jobs were lost in July, according to the latest employment report, and job loss in June was revised to 221,000, from 125,000. The unemployment rate held steady, at 9.5 percent, but that is only because 181,000 people quit looking for work last month.
Such "missing workers," those who either have dropped out or have never entered the labor force since the recession began, now number 3.9 million. That's on top of 14.6 million officially unemployed and 8.5 million who are working part time but need full-time jobs.
There is no positive spin for this.
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