UNITED STEELWORKERS

Local 745  - Freeport, IL

 

Representing members employed by:

Titan Tire Corporation - Freeport Plant

classified employees of Freeport School District # 145

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Taking Back Our Economy - Part 17  
Economic Snapshot    
While the Rapid Response Taking Back Our Economy series has taken a break for a few months during ongoing actions, the downturn in the U.S. economy keeps getting worse.  This InfoAlert gives a quick snapshot of job trends shaping our economy right now.  
Jobs by the Numbers
463,000  -   Jobs lost so far this year
7   -   Number of months we’ve seen a consistent decline in job numbers
5.7%   -  July 2008 unemployment rate
4.7%   -  July 2007 unemployment rate
33.6   -  Average weekly hours worked in July 2008
2003  -  The last year the average weekly hours were this low
2.8%  -  Amount weekly earnings were up in July 2008
4-5%  -  Current rate of inflation (resulting in eroding wages!)
5.7 million  -  Part-time workers who would prefer to work full-time in July 2008*
4.3 million  -  Part-time workers who would prefer to work full-time in July 2007

*This is the highest number since this Bureau of Labor Statistics started compiling the data this way in 1994.
Source: Bureau of Labor Statistics data as analyzed by the Economic Policy Institute, August 1, 2008.