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.
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.
