Weak Employment Growth

BLS released the Employment Situation: July 2007 today and the news is not great:

Nonfarm payroll employment continued to trend up (+92,000) in July, and the unemployment rate (4.6 percent) was essentially unchanged, the Bureau of Labor Statistics of the U.S. Department of Labor reported today.

On the household survey front, recorded employment fell by 30,000, which lowered the employment to population ratio from 63.1% to 63.0%.