THE EMPLOYMENT SITUATION IN JUNE
By: Hope Wilkos, Writer/Blogger Photographer: George Whylie Videographer: Maxine NolanThe latest results of the employment situation in June were released today. There seems to be a dim light at the end of the tunnel. President Obama has proposed to create jobs by ending tax breaks for companies to ship jobs overseas and encourage supporting state and local governments to prevent layoffs and rehire hundreds of thousands of teachers.
The private sector has added 84,000 jobs in June and non-farm payroll employment rose by 80,000. For 28 months straight, private sector jobs have been added making a total of 4.4 million payroll jobs. Even with this positive outlook, jobs are still not being added to the workforce fast enough.
The unemployment rate remains the same at 8.2% in June. This rate is 0.9 percentage points below its level a year ago.
Over 11,000 manufacturing jobs were added in June. Since January 2010, the economy has added 504,000 manufacturing jobs – the strongest growth for any 29-month period since April 1995. To keep the momentum going, the President is opting for tax incentives for manufacturers, enhanced training for the workforce and measures to create manufacturing hubs and discourage sending jobs overseas.
Temporary help services increased by 25,200 jobs, leisure and hospitality by 13,000 and wholesale trade by 8,800. Retail trade lost 5,400 jobs, government lost 4,000 jobs and motion pictures and sound recording jobs lost 4,200 jobs. Local governments released 14,000 education jobs.
These are the June employment results, what will the patriotic month of July bring?
Statement by Chairman of the Council of Economic Advisers Alan Krueger
Comments are closed.