U.S. June unemployment rate up slightly to 9.5%
Lest we forget… the June unemployment for the U.S. was released to the media and nonfarm payroll employment continued to decline in June, by 467,000. The unemployment rate was up slightly, from 9.4% in May to 9.5% in June. Job losses were widespread across the major industry sectors, with large declines in manufacturing, professional and business services, and construction.
Since the start of the recession in December 2007, the number of unemployed has increased by 7.2 million (to 14.7 million in June), and the unemployment rate has risen by 4.6 percentage points.
Unemployment rates for the major groups in June showed little change: adult men (10.0%), adult women (7.6%), teenagers (24.0%), whites (8.7%), blacks (14.7%), and Hispanics (12.2%). The unemployment rate (not seasonally adjusted) for Asians was 8.2%.
The number of long-term unemployed (jobless for 27 weeks or more) increased by 433,000 to 4.4 million. In June, 30% of the unemployed were jobless for 27 weeks or more.
“Involutary part-time workers” (who would rather be working full-time) was little changed at 9.0 million. Since the start of the recession, the number of such people has increased by 4.4 million.
Persons “marginally attached” to the labor force numbered 2.2 million in June, up 618,000 from a year ago. They were not counted as unemployed because they had not searched for work in the 4 weeks prior to the survey. Of this group, there were 793,000 discouraged workers (who believe no work is available for them) in June, up by 373,000 from a year ago. The other 1.4 million had not searched for work in the 4 weeks prior to the survey for reasons such as school attendance or family responsibilities.
Retail trade employment was down by 21,000 in June, moderating over the last 3 months. Job losses continued in automobile dealerships (down 9ooo).Wholesale trade declined by 16,000. Financial activities declined by 27,000. Since the start of the recession, this industry has lost 489,000 jobs. In June, employment declined in credit intermediation and related activities (-10,000) and in securities, commodity contracts, and investments (-6000). Health care employment INCREASED by 21,000 in June. Job gains in health care have averaged 21,000 per month gains so far in 2009. Federal government employment declined by 49,000 in June, mostly from the layoff of temporary workers hired to prepare for Census 2010.
As always, the Bureau of Labor Statistics report has EVEN MORE informatioin on employment in June.
-Bill at Cheshire Cat Photo™
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