Grand Rapids, MI -- (SBWIRE) -- 08/25/2010 -- In his monthly newsletter update Moving Markets, noted financial advisor Dennis Tubbergen discusses many financial topics, but unemployment numbers for the U.S. remain one of his primary concerns. With the release of July’s unemployment statistics showing no sign of a gain and the unemployment rate continuing at 9.5 percent, Tubbergen digs a little deeper to look at some additional facts.

Tubbergen, who has over 20 years’ experience in the financial industry and is CEO of USA Wealth Management LLC, a federally registered investment advisory company, likes to dissect what is really happening in the U.S job market and examines a few reported statistics from June in his July newsletter.

Discussing the ‘decline’ in unemployment from 9.7 percent to 9.5 percent announced in July, Tubbergen points out that the drop occurred because of people who have stopped looking for work.

“The reason for the decline was the number of people who left the work force; folks who were discouraged enough in their job search to say ‘I give up’ and quit looking,” explains Tubbergen. He also refers to a July 2, 2010 article in the Los Angeles Times that states a mere 33,000 private sector jobs were added in June. Even more unsettling is the article’s statement that “the average hours worked in manufacturing and other industries in June declined, as did average hourly earnings.”

Another alarming statistic: Most of the gains in June were made in the low-paying leisure and hospitality industries, as well as the temp markets. Tubbergen is adamant that unemployment numbers have a direct link to housing, explaining in part why the housing market remains depressed.

The number of unemployed persons in the United States remains at 14.6 million. For the past two months, the percentage of the overall working-age population that is actually employed in the American labor force has stood at 64.7 percent.

“Think about that statistic,” asks Tubbergen. “Right now, 35.3 percent of the working-age population is not employed. In my view, that’s a large number that will need to be reduced before any meaningful and sustainable economic recovery can occur.”

For more information on Dennis Tubbergen’s views, visit http://www.dennistubbergen.com.

The opinions expressed herein are those of the writer and not necessarily those of USA Wealth Management, LLC. This update may contain forward-looking statements, including, but not limited to, statements as to future events that involve various risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual events or results to differ materially from those that were forecasted. Therefore, no forecast should be construed as a guarantee. Prior to making any investment decision, individuals should consult a professional to determine the risks, costs, benefits and fees associated with a particular investment. Information obtained from third party resources is believed to be reliable but the accuracy cannot be guaranteed.