Unemployment Rate Unchanged at 7.6% for June

The unemployment rate remained at 7.6% for June, according to a Labor Department report (link opens as PDF) released today.

Although this latest rate failed to meet analyst expectations of a slight drop to 7.5%, total nonfarm payroll employment growth exceeded expectations. Analysts had predicted 161,000 new jobs for June, but the month's increase actually clocked in at 195,000.

Source: bls.gov. 

Diving deeper, the number of long-term unemployed (4.3 million) and unemployed overall (11.8 million) were essentially unchanged, as were the civilian labor force participation rate (63.5%) and the employment-population ratio (58.7%). 

The leisure and hospitality industry packed the most punch for payroll improvements, adding 75,000 jobs in June. Professional and business services employment increased by 53,000, while retail rose 37,000.

As a positive note for the individual employee, average hourly earnings made an unexpected 0.4% gain (up $0.10 to $24.01) after bumping up 0.1% for May. Analysts had expected 0.2%, just half of the actual increase.

The report also gave revised numbers for the change in total nonfarm payroll employment in April and May, bumping April's number up by 50,0000 and May's number up by 20,000.

link


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  • Report this Comment On July 05, 2013, at 4:54 PM, RAN1961 wrote:

    Well I guess all those people that I see standing by walmart,and the Mall here with OUT OF WORK HOMELESS did not get the Memo,or all the ones working P/T jobs at $8.00 dollars a hour.What B.S,The people who live here in the U.S are not some dumb!@## that you can fool with a story or news report

  • Report this Comment On July 05, 2013, at 6:40 PM, serioso777 wrote:

    Motley ...I'm surprised at you, I didn't think you all were Media whores too ? Sheezzz, where can one get real news these days ?

  • Report this Comment On July 05, 2013, at 7:57 PM, ThisIsUnReal wrote:

    I wish they would stop calling this the unemployment rate and call it what it is... It's the "Percentage of Americans still able to collect an unemployment check"

    Obama's destruction of this country includes a current unemployment rate of probably 30% when you figure all the early retirements of people that would really rather work than retire but can't find a job, and the people that can't retire, can't get a job and used up the limited amount of time unemployment is payed.

    We have 43 million people on food stamps, that's 43million un or under-employed Americans that's also 15% of this country's people, all of them being adults.

    We have even more "retired" people, WAY up from the norm, the latest number eludes me, but I'm thinking 25%... I KNOW... "It's the Baby Boomers coming of age"... No IT'S NOT, and yes I know we've been expecting that, but it's not here yet... The age of our current retirees is way low, and again, it's not really by choice, it's by necessity... offer these people a job and they will work for another 20 years to increase their retirement booty...

    There are probably even more groups I don't know about, but those two I have personal experience with, and I know It's not just me

  • Report this Comment On July 05, 2013, at 8:23 PM, smorpo wrote:

    But according to Biden, the lib media and the other lib sheep things are just great. Whatever the economy has done has been in spite of the socialists we have in power.

    We need to get back to fundamental capitalist principles if we want to move forward. It's what made America great until now, so why we would change is beyond me...except that people who don't take risks want to take $$ from people who don't.

  • Report this Comment On July 05, 2013, at 9:54 PM, spydercoendura wrote:

    When "diving deeper" into the numbers, there was one small fact that should have been pointed out in this article. The 195,000 new jobs was actually 360,000 new PART TIME jobs, minus 240,000 LESS full time jobs last month.

    Unemployment report in a nutshell: the Taco Bell that had 30 40 hour workers now has 40 30 hour workers.

  • Report this Comment On July 06, 2013, at 11:27 PM, SD13SHO wrote:

    According to the Bureau of Labor Statistics, the jobless rate is over 17%. Only 47% of the eligible workers are employed. Let's stop playing games with the numbers and tell the truth. The 7/6 % only reflects those who are jobless and collecting a check, not the jobless who have dropped out of the market because they cannot find work or those who have run out of benefits.

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