Forecast: 440,000 Jobs Lost In July

WANTED predicts that when the numbers are tallied, we’ll have lost another 440,000 jobs this month, bringing total unemployment up to 9.8 percent.

WANTED technologies calculates its predictions two weeks in advance of the Bureau of Labor Statistics’ official releases (July’s numbers will be released Aug. 7) using Unemployment Insurance claim data as well as Hiring Demand based on the number of jobs posted to various job boards.

“Hiring Demand has decreased by 3% since last month on a seasonally adjusted basis. Last month Hiring Demand was up 2%, which drove an optimistic forecast. Although Hiring Demand has stabilized, it has not picked up enough to generate gains in employment.”

WANTED forecasts major losses in finance and transportation and gains in healthcare. Media doesn’t make either list, presumably because our industries have been sucking about equally to every other industry.