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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Soul Crusher on July 02, 2010, 05:38:40 AM
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Employment Situation Summary
Transmission of material in this release is embargoed USDL-10-0886
until 8:30 a.m. (EDT) Friday, July 2, 2010
Technical information:
Household data: (202) 691-6378 * cpsinfo@bls.gov * www.bls.gov/cps
Establishment data: (202) 691-6555 * cesinfo@bls.gov * www.bls.gov/ces
Media contact: (202) 691-5902 * PressOffice@bls.gov
THE EMPLOYMENT SITUATION -- JUNE 2010
Total nonfarm payroll employment declined by 125,000 in June, and the
unemployment rate edged down to 9.5 percent, the U.S. Bureau of Labor
Statistics reported today. The decline in payroll employment reflected
a decrease (-225,000) in the number of temporary employees working on
Census 2010. Private-sector payroll employment edged up by 83,000.
Household Survey Data
Both the number of unemployed persons, at 14.6 million, and the unem-
ployment rate, at 9.5 percent, edged down in June. (See table A-1.)
Among the major worker groups, the unemployment rate for adult women
(7.8 percent) declined, while the rates for adult men (9.9 percent),
teenagers (25.7 percent), whites (8.6 percent), blacks (15.4 percent),
and Hispanics (12.4 percent) showed little or no change. The jobless
rate for Asians was 7.7 percent, not seasonally adjusted. (See tables
A-1, A-2, and A-3.)
In June, the number of long-term unemployed (those jobless for 27
weeks and over) was unchanged at 6.8 million. These individuals made
up 45.5 percent of unemployed persons. (See table A-12.)
The civilian labor force participation rate fell by 0.3 percentage
point in June to 64.7 percent. The employment-population ratio, at
58.5 percent, edged down over the month. (See table A-1.)
The number of persons employed part time for economic reasons (some-
times referred to as involuntary part-time workers), at 8.6 million,
was little changed over the month but was down by 525,000 over the
past 2 months. These individuals were working part time because their
hours had been cut back or because they were unable to find a full-
time job. (See table A-8.)
In June, about 2.6 million persons were marginally attached to the
labor force, an increase of 415,000 from a year earlier. (The data
are not seasonally adjusted.) These individuals were not in the labor
force, wanted and were available for work, and had looked for a job
sometime in the prior 12 months. They were not counted as unemployed
because they had not searched for work in the 4 weeks preceding the
survey. (See table A-16.)
Among the marginally attached, there were 1.2 million discouraged
workers in June, up by 414,000 from a year earlier. (The data are not
seasonally adjusted.) Discouraged workers are persons not currently
looking for work because they believe no jobs are available for them.
The remaining 1.4 million persons marginally attached to the labor
force had not searched for work in the 4 weeks preceding the survey
for reasons such as school attendance or family responsibilities.
(See table A-16.)
Establishment Survey Data
Total nonfarm payroll employment decreased by 125,000 in June, re-
flecting the departure of 225,000 temporary Census 2010 workers from
federal government payrolls. Total private employment edged up over
the month (+83,000) due to modest increases in several industries.
So far this year, private-sector employment has increased by 593,000
but in June was 7.9 million below its December 2007 level. (See
table B-1.)
Within leisure and hospitality, employment rose over the month by
28,000 in amusements, gambling, and recreation.
Within professional and business services, employment continued to
increase in temporary help services (+21,000). Employment in tem-
porary help has risen by 379,000 since a recent low in September
2009. Elsewhere in professional and business services, management
and technical consulting (+11,000) and business support services
(+7,000) also added jobs over the month.
In June, transportation and warehousing added 15,000 jobs. Since a
recent low in February, this industry has added 44,000 jobs.
Health care employment edged up in June (+9,000). Over the past 12
months, the industry has gained 217,000 jobs.
Mining employment continued to trend up in June (+6,000); the indus-
try has gained 56,000 jobs since October 2009. Within mining, sup-
port activities added 7,000 jobs in June.
Manufacturing employment continued to trend up over the month (+9,000).
The industry has added 136,000 jobs since December 2009.
Construction employment decreased by 22,000 in June, with the largest
decline in nonresidential specialty trade contracting. On net, con-
struction employment has shown little change over the last 4 months.
Employment in other private-sector industries, including wholesale
trade, retail trade, information, and financial activities showed
little change in June.
Government employment fell by 208,000 in June, driven by the loss of
225,000 temporary workers hired for Census 2010. Employment in both
state and local governments was little changed over the month.
In June, the average workweek for all employees on private nonfarm pay-
rolls decreased by 0.1 hour to 34.1 hours. The manufacturing workweek
for all employees decreased by 0.5 hour to 40.0 hours; this followed an
increase of 0.4 hour in May. The average workweek for production and
nonsupervisory employees on private nonfarm payrolls was unchanged at
33.4 hours in June. (See tables B-2 and B-7.)
Average hourly earnings of all employees in the private nonfarm sector
decreased by 2 cents, or 0.1 percent, to $22.53 in June. Over the past
12 months, average hourly earnings have increased by 1.7 percent. In
June, average hourly earnings of private-sector production and non-
supervisory employees were unchanged at $19.00. (See tables B-3 and
B-8.)
The change in total nonfarm payroll employment for April was revised
from +290,000 to +313,000, and the change for May was revised from
+431,000 to +433,000.
____________
The Employment Situation for July is scheduled to be released on Friday,
August 6, 2010, at 8:30 a.m. (EDT).
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June Non-Farm Payrolls Come In WEAK: Loss Of 125,000 Is Worse Than Expected
www.businessinsider.com
Share Joe Weisenthal | Jul. 2, 2010, 8:30 AM
The numbers:
Non-farm payrolls fell 125K
Unemployment is at 9.5%, down from 9.7%
PRIVATE job creation was just over 80K, which was weak.
Average hourly earnings actually slipped 0.1%.
Futures are actually ticking up modestly, a sign of how much negativity had been expected.
The full data set can be found here.
See here for 12 charts on the overall state of the labor market >
Context: The market is thirsty for a good number here, following a very weak May report, and a string of consistently mediocre economic reports since then, including major stagnation in weekly claims.
A few headline numbers to look for:
The market is looking for a payrolls decline of about 100 to 110K owing to major cutbacks in the Census.
Deutsche bank expects Census cuts to hit 230K, which means private payroll
GAINS need to be over 100K to compensate.
The unemployment rate is expected to be around 9.8%, but this number has become somewhat secondary and ignored, owing to fluctuations that result from people moving from the discouraged worker category to the actively seekers.
Tags: Economy, Jobs
Short URL Share:
Read more: http://www.businessinsider.com/june-non-farm-payrolls-2010-7#ixzz0sWoUPoIJ
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240 - we only have 3 months to go before you admit the Stim Bill was a failure.
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240 - we only have 3 months to go before you admit the Stim Bill was a failure.
He's too busy smearing Sarah Palin, even though he believes: "she's 100% right on most of her issues."
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He's too busy smearing Sarah Palin, even though he believes: "she's 100% right on most of her issues."
I said over a year ago that the only way to possibly start changing anything is to scrap ObamaCare, no more talk of VAT, cap & trade, no card check, etc.
Until Obama scraps his entire agenda, things will get drastically worse.
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According to Pelosi, the more people that are on unemployment, more jobs will be created. Hear that everyone? Collect unemployment benifits to fix the economy.
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According to Pelosi, the more people that are on unemployment, more jobs will be created. Hear that everyone? Collect unemployment benifits to fix the economy.
Maybe i can shut down my business and really stimluate the economy by getting pelosi to send me endless checks.
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This whole time I thought having a job meant something but apparently it's the stupid way to get ahead.
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It is hilarious that dems call this unexpected, Seriously, who doesnt expect these numbers? Everyone in America expects these except for these clowns, and this admin has been deemed the most educated admin ever. ??? Educated in what ?
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240 - we only have 3 months to go before you admit the Stim Bill was a failure.
hahahahah I knew a 240 reference was coming.
When you saw the report, did you think "Rob" or did you use the actual number "240" out loud as you read it? hehe
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hahahahah I knew a 240 reference was coming.
but the stim bill you do have egg on your face.
When you saw the report, did you think "Rob" or did you use the actual number "240" out loud as you read it? hehe
Ha ha ha. i was looking forward to how you spinned it. I could argue w you 24/7
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Ha ha ha. i was looking forward to how you spinned it. I could argue w you 24/7
hahaha in that case...
Unemployment is at 9.5%, down from 9.7%
80k new private sector jobs were created, and many more people enjoyed govt jobs as well.
It's a big hole we all inherited, but it's small steps like this that we take as part of an overall journey back to financial viability. it's this responsible use of our nation's dollars that will help us continue our very upward trend of job creation... the #1 goal of this administration!
;)
[/spin]
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According to the deluded left wing morons on this site, Sarah Palin and Steele matter more than this.