Nonfarm payroll employment fell again in July, although the loss of 42,000 is much smaller than the 93,000 posted in June. Job losses were heaviest in goods-producing industries, where employment fell 47,000 in July, while service-producing industries showed a small net employment gain of 5,000. Industries with no significant net employment loss are now showing very little growth.
Suggested citation: "Labor Markets," Federal Reserve Bank of Cleveland, Economic Trends, no. 01-08, pp. 12, 08.01.2001.