Employment statistics from the Bureau of Labor Statistics of the U.S. Department of Labor for the month of July, as well as its employment statistics comparing July 2007 versus July 2008, indicate a significant decline in information technology employment

(RTTNews) - Data releases were limited on Thursday as most of the European economies were celebrating the International Labor Day. However, UK, Turkey and Ireland were in news with the Purchasing Managers' Index.

Job losses continued to afflict the world's biggest economy in June as US employers shed 62,000 nonfarm jobs amid a lingering slowdown, a Labor Department report showed Thursday.

Maybe it's the Fed, or the stimulus checks, or the dollar, or the strange nature of this cycle, but the U.S. economy hasn't yet tipped into a deep recession, despite persistent weakness in jobs, incomes, sales and factory activity.

The US labor market held up better than expected in April despite fears of an economic slump, with 20,000 jobs cut in the month, the Labor Department reported Friday.