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Nonfarm business sector labor productivity decreased at a 1.8 percent annual rate during the second quarter of 2010, the U.S. Bureau of Labor Statistics reported as hours increased 3.5 percent and output increased 1.6 percent. (All quarterly percent changes in this release are seasonally adjusted annual rates.) The second-quarter gain in hours worked was the largest since the first quarter of 2006. From the second quarter of 2009 to the second quarter of 2010, productivity and output both grew 3.7 percent and hours were unchanged. Nonfarm business productivity increased at an average annual rate of 2.5 percent from 2000 through 2009.

Unemployment rates were higher in July than a year earlier in 192 of the 372 metropolitan areas, lower in 170 areas, and unchanged in 10 areas, the U.S. Bureau of Labor Statistics reported. Seventeen areas recorded jobless rates of at least 15.0 percent, while 6 areas registered rates below 5.0 percent. The national unemployment rate in July was 9.7 percent, not seasonally adjusted, the same as a year earlier.

Online advertised vacancies dropped 57,100 in August to 4,236,200, following an increase of 139,200 in July, according to The Conference Board Help Wanted OnLine™ (HWOL) Data Series released.

Mortgage rates moved lower this week, with the average conforming 30-year fixed mortgage rate hitting another record low of 4.53 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.42 discount and origination points.

One of the larger parts of the current economic crisis has been unemployment. In fact, when economists were speaking about economic recovery, they often stated it could be a jobless recovery. Americans feel the employment woes, as two-thirds of them (66%) say the current job market of their region is bad, 22% say it is neither good nor bad and only 12% say it is good.

As the effects of the recession linger on, one place it continues to have a tight grip is on workers' wallets. Nearly eight-in-ten (77 percent) workers report that they live paycheck to paycheck to make ends meet. Sixty-one percent of workers said that they felt they lived paycheck to paycheck to make ends meet in 2009. Workers went on to say that sometimes they are unable to make ends meet at all, with one-in-five (22 percent) saying they have missed payments on bills in the last year. This is according to a new nationwide survey of more than 4,400 workers by CareerBuilder that was conducted from May 18 to June 3, 2010.

Older workers’ confidence in their ability to retire comfortably has rebounded modestly in the past year, although confidence levels remain well below those prior to the financial crisis. Additionally, while concerns among older workers with defined benefit (DB) plans have eased, younger workers are growing increasingly worried over their DB benefits, according to a new survey conducted by global professional services company Towers Watson.

The vast majority of small business owners (86 percent) are concerned that the economy may experience a double-dip recession, according to the latest Citibank small business survey. At the same time, 75 percent of survey respondents say they are very or somewhat prepared for another downturn, signaling that many entrepreneurs have adjusted their businesses and finances to get through any additional economic stumbles.

More consumers feel the economy is getting better, but the number of consumers rating their personal finances as poor reached a six-month high in August according to the Discover U.S. Spending Monitor.

Labor productivity - defined as output per hour - fell in wholesale trade, but rose in retail trade and in food services and drinking places, in 2009, the Bureau of Labor Statistics reported.