Tuesday, July 19, 2011

Labor Department official analyzes June unemployment numbers - Business First of Louisville:

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percent in June from 9.4 percent in May, the 's said last Here is testimony on the latest unemployment data by BLS Commissionerd Keith Hall as prepared for delivery last week to the Joinrt Economic Committeeof Congress. Nonfarm payrolll employment continued to fall inJune (-467,000), and the unemploymentt rate was little changec at 9.5 percent. Since the recession begajn in December 2007, payrol employment has droppedby 6.5 million, and the unemploymenyt rate has increased by 4.6 percentage points. Payrollo employment declines continued to be widespread amonhg themajor industries. In there were large decreasesin manufacturing, and professional and businesz services.
Together, these three sectors have accounted fornearly three-quarters of the jobs lost since the recession Manufacturing employment fell by 136,000 in June, bringinhg job loss in this industry to 1.9 million since the start of the recession. Motor vehicle and parts employmen declinedby 27,000 over the since the start of the the industry has lost 335,00o0 jobs, about one-third of its total. Construction employmentt decreasedby 79,000 in Job losses in the industrh have totaled 1.3 million during this Employment in professional and business service dropped by 118,000 in June.
Job lossesd occurred throughoutthe industry, including temporargy help services (-38,000), services to buildings and dwellingss (-17,000), and architectural and engineeringt services (-14,000). Since the starg of the recession, professional and business services haslost 1.5 million temporary help services accounted for over half of this Federal government employment fell by 49,000 in June, largelty reflecting the layoff of workerse temporarily hired to prepare for Censuzs 2010. Elsewhere in the service-providing sector, job lossee continued in financialactivities (-27,000), information and wholesale trade (-16,000).
Retail trade employmentf edged down over the month losses continued among autodealerships (-9,000). The health care industry adde d 21,000 jobs over the month, in line with its averagr monthly gain for the first 5 months of this but below the average gainof 30,00o jobs per month in 2008. Average hourlgy earnings for production and nonsupervisory workers in the privater sector were unchanged in Juneat $18.53. Over the past 12 average hourly earnings have risenby 2.7 percent. From May 2008 to May the Consumer Price Index for Urbanj Wage Earners and Clerical Workers declinedrby 1.5 percent. Turning to measures from the household survey, the unemployment rate was littler changed at 9.
5 percent in June. The rate had increased by 0.4 or 0.5 percentage points in each of the prior 6 Since the onset of the recession in December the unemployment rate has risenby 4.6 percentages points. There were 14.7 million unemployed persona in June, little changed from the prior SinceDecember 2007, unemployment has risen by 7.2 The number of persons unemployed for 27 weeks or longere continued to increase in June. The 4.4 milliohn long-term jobless individuals accounted for 3 in 10 unemployed The employment-population ratio edged down to 59.5 percent in June. The ratio has fallen by 3.2 percentage pointds since therecession began. Among the there were 9.
0 million persons workintg part time in June who woulf havepreferred full-time work. After risingg sharply last falland winter, this measure has been little changee since March. In summary, nonfarm payrolol employment continued to fall in June with job lossestotalinyg 6.5 million since the recession began. The unemploymenft rate, at 9.5 percent, was little changed over the

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