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US Job Growth Weak in June, Unemployment Holds Steady

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US payroll jobs grew a weak 80,000 in June. The unemployment rate remained steady at 8.2 percent

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US Job Growth Weak in June, Unemployment Holds Steady

  1. Data for the Classroom from Ed Dolan’s Econ Bloghttp://dolanecon.blogspot.com/U.S. Job Growth Remains Weak in June Posted July 7, 2012 Terms of Use: These slides are made available under Creative Commons License Attribution—Share Alike 3.0 . You are free to use these slides as a resource for your economics classes together with whatever textbook you are using. If you like the slides, you may also want to take a look at my textbook, Introduction to Economics, from BVT Publishers.
  2. Job Growth Remains Weak in June The latest report from the Bureau of Labor Statistics showed the 21st straight month of job growth in May, but the pace of job growth was a weak 80,000, little different from the previous two months An increase of 84,000 in private nonfarm jobs was offset by a decrease of 4,000 in government jobs. A separate household survey that includes farm jobs and self-employment showed an increase of 128,000 jobs Posted July 7, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
  3. Unemployment Rate Unchanged in June The unemployment rate remained essentially unchanged at 8.2 percent in June The number of unemployed persons increased by 29,000 The labor force, which includes both employed and unemployed persons, increased by 156,000 The unemployment rate is the ratio of unemployed persons to the labor force Posted July 7, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
  4. Employment-Population Ratio a Bit Above its Lowest Point The employment to population ratio remained at 58.6 percent in June, after a slight increase in May The ratio reached an all-time low of 58.1 percent one year ago The ratio is affected both by cyclical factors and by long-run trends, especially an aging population Posted July 7, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
  5. Broad vs. Standard Unemployment Rate The BLS also provides a broader measure of job-market stress, U-6 The numerator of U-6 includes  Unemployed persons  Marginally attached persons who would like to work but are not looking because they think there are no jobs or for personal reasons  Part-time workers who would prefer full-time work but can’t find it The denominator includes the labor force plus the marginally attached U-6 rose slightly in June for the second month in a row Posted July 7, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com
  6. Long-Term Unemployment Falls, but Remains High The percentage of all unemployed workers who have been out of work 27 weeks or longer fell slightly in June, but remains high The long-term unemployment rate has been unusually high throughout the recession and recovery Posted July 7, 2012 on Ed Dolan’s Econ Blog http://dolanecon.blogspot.com

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