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In July 2010, compared with June 2010, the volume of retail trade increased by 0.1% in both the euro area (EA16) and the EU27. In June retail trade rose by 0.2% and 0.3% respectively.

The U.S. Monster Employment Index recorded its seventh consecutive month of positive year-over-year growth rate at 12 percent. The annual growth rate eased from July possibly due to moderation in underlying job market drivers. The Index dropped two points (1 percent) in August as online job demand eased contrary to seasonal patterns traditionally witnessed at this time of the year.

Nonfarm payroll employment changed little (-54,000) in August, and the unemployment rate was about unchanged at 9.6 percent, the U.S. Bureau of Labor Statistics reported. Government employment fell, as 114,000 temporary workers hired for the decennial census completed their work. Private-sector payroll employment continued to trend up modestly (+67,000).

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.

In July 2010 compared with June 2010, the industrial producer price index rose by 0.2% in both the euro area (EA16) and the EU27. In June 2010, prices increased by 0.3% in both zones.

GDP increased by 1.0% in both the euro area (EA16) and the EU27 during the second quarter of 2010, compared with the previous quarter, according to first estimates released by Eurostat, the statistical office of the European Union. In the first quarter of 2010, growth rates were +0.3% in both zones.

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.