Unemployment Edges Up to 4.6%

As I mentioned yesterday, the latest BLS jobs report says that the unemployment rate in July 2007 is 4.6%, higher than last month's rate of 4.5%, but lower than the July 2008 rate of 4.8%.

What It Means to You

The unemployment rate is a lagging indicator, which means it confirms, rather than predicts, trends. Therefore, an worsening unemployment rate could be confirming the worsening employment report that was I mentioned yesterday.

The only thing to do at this point is wait until the next employment report is released on September 7 to see if the unemployment rate worsens, thus confirming the trend. In the meantime, take some of the steps in the articles below to make sure your career is protected.

Unemployment Frequently Asked Questions

• What Is Being Done to Control Unemployment?
• How Can I Protect Myself From Unemployment?
• Free About.com Career Planning Class