Conventional wisdom may say that surging productivity is bad for job creation, but that doesn't mean falling productivity is good for it. A surprise decline in quarterly business productivity in the second quarter was hardly welcomed as a sign of better times ahead for the labor market.
The latest overall job loss numbers showed a loss of 131,000 jobs in July and an unemployment rate remaining at 9.5%. Here is a breakdown of where the job losses were as well as which sectors were adding jobs.