Cristy Li

(Market Watch) The number of people who applied for jobless benefits in the first week of July spiked 16,000 to a seasonally adjusted 360,000 the highest level in two months the U.S. Dept of Labor reported today.

Last week Tyler Durden at Zero Hedge reported that manufacturing jobs continue to collapse–their fourth consecutive monthly drop which is great news for part-time workers. In June restaurant and bar employees hit a new all time high of 10,339,800 workers–increasing by a whopping 51,700 in one month.

In California, the jobless rate remains higher than the national average–low job growth has weakened consumer confidence declining six points according to Hispanic Business.com People statewide have become more concerned about where the economy may go in the next few months–indicating that consumers are not thinking about making major purchases, at least until the economy shows a marked improvement.