WASHINGTON D.C. – One industry badly hit last month was “the motion picture and sound recording industry,” according to the U.S. Bureau of Labor Statistics. From the jobs report released this morning:
Within information, the motion picture and sound recording industry lost 22,000 jobs in August, following a gain of 8,000 in July.
Other industries (“including mining and logging, construction, transportation and warehousing, financial activities, and government”) were largely unchanged, according to the survey.
And while the overall employment rate dropped a fraction to 7.3 percent, the participation rate reached a low not seen in 35 years. “The participation rate, which indicates the share of working-age people in the labor force, declined to 63.2 percent, the lowest since August 1978, from 63.4 percent,” reports Bloomberg.