62,000 Jobs Lost in June, Jobless Rate 5.5%; Obama and McCain React
By: Pam On: Jul/3/08 - 2 Comments
Keep in mind that this is the time of year that the automotive companies shut down for model change. Due to when the July 4th holiday hit, many suppliers shut down the last week of June. I am not trying to imply that automotive accounts for all of this, but it does account for at least half. These shutdowns are semi-annual, December and July, therefore, it is not uncommon to see spikes between late December to early January and late June to mid-July.
July 3, 2008 - 11:18 AM on July 3rd, 2008
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July 4, 2008 - 12:31 AM on July 4th, 2008
Don’t forget the number of school employees who are off at the end of the school year. That’s a LOT of teachers, bus drivers, cooks and janitors who are out of work every June and July as well. There is also the fact that GM and Ford have closed a number of their truck, SUV and minivan factories over the gas prices.