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Unemployment Hits 9.2% As Hiring Slows
By
Jen Chung
Published Jul 8, 2011
Modified Jul 8, 2011
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By
Jen Chung
Published Jul 8, 2011
Modified Jul 8, 2011
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The U.S. Department of Labor released the June job numbers today: "Nonfarm payroll employment was essentially unchanged in June (+18,000), and the unemployment rate was little changed at 9.2 percent... Employment in most major private-sector industries changed little over the month. Government employment continued to trend down."
Apparently, experts had been expecting 105,000 jobs to be added. Some had been expecting a rebound in manufacturing jobs, after dealing with impact from the Japanese earthquake, but only 6,000 jobs were added. Government jobs fell by 39,000, but jobs in the professional and business services grew by 12,000.
The NY Times reports, "The report said that 14.1 million people were out of work in June, among them 6.3 million who have been jobless for six months or longer. In May, the total number of unemployed people was reported as 13.9 million, with the long-term unemployed at 6.2 million. The numbers showed the continuing challenges of adding jobs to the economy even at a rate that keeps pace with population growth, two years after the official end of the longest economic downturn since the Great Depression." The Washington Post explains, "The economy typically needs to add 125,000 jobs per month just to keep up with population growth. And at least twice that many jobs are needed to bring down the unemployment rate."
Tagged
economy
jobs
president obama
recession
recovery
Unemployment
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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