Job Cuts Spread Beyond Weakest Sectors

The Labor Department said on Friday that the U.S. economy lost jobs for the seventh straight month in July, and that the unemployment rate rose to 5.7%.

The results were not unexpected, though there are sure to be further declines ahead as the layoffs and buyout deals announced throughout the year -- by companies that run the gamut from Citigroup (C Quote) to United Airlines parent UAL Corp. (UAUA Quote) to GM (GM Quote), Ford (F Quote) and Starbucks (SBUX Quote) -- continue to take effect.

Those seeking work or deciding on a college major should investigate oil extraction, health care or education, all of which have been strong little enclaves within a droopy job market.

In broader terms, the services sector is faring better than the goods-producing one, meaning that blue-collar manufacturing jobs are being lost to those that transmit and market products to the consumer or offer intangible services.

Small businesses are performing better than medium and large ones, although they tend to offer less comprehensive benefits -- if any at all -- and lower pay.