Overview:   The economy lost 131,000 jobs in July while the unemployment rate held steady at 9.5%.  Consumer credit fell by $1.3 billion in June.  The ISM index fell 0.7 point to 55.5 in July; the ISM services index rose 0.5 point to 54.3.  Personal income and spending were unchanged in June.  Auto sales rose 3.3% in July.  Construction spending inched up 0.1% in June while pending home sales fell 2.6%.  Factory orders declined 1.2% in June.  Initial jobless claims rose by 19,000 to a level of 479,000 for the week ended 7/31.

Payroll employment fell by 131,000 in July while the unemployment rate remained unchanged at 9.5%.  Government employment fell by 202,000 while private employment rose by 71,000.  A further decline in the labor force (which fell by almost 200,000 in July and is now 1.4 million below its peak in May of 2009) likely contributed to the unemployment rate holding steady despite significant job losses.  June employment was revised downwards to a loss of 221,000, from a previously reported decline of 125,000.

Consumer credit fell by $1.3 billion to $2.418 trillion in June. This marks the 16^th decline over the past 17 months in which credit has fallen by a record $163.5 billion.

The ISM index fell 0.7 point to 55.5 in July.

The ISM services index rose 0.5 point to 54.3 in July. 

Both personal income and personal spending were unchanged in June.

Auto sales rose 3.3% in July to an annual rate of 11.54 million units.

Construction spending inched up 0.1% in June.

Pending home sales fell 2.6% in June after declining nearly 30% in May.

Factory orders were down 1.2% in June.

Initial jobless claims rose by 19,000 to 479,000 for the week ended July 31^st.