Here is what economists had to say about Friday’s unemployment report that said 247,000 jobs were lost in July and the jobless rate dropped to 9.4 percent...
“The economy lost 265,000 jobs in the first month of the recovery in 2001 and 226,000 jobs in the first month of the recovery in 1991. The economy appears to be following the same pattern again. Of course, those last two upturns turned out to be ‘jobless’ recoveries, so this isn’t quite as encouraging as it sounds.” —
Paul Ashworth, senior US economist, Capital Economics
From their post "Economists React to Jobless Report"
