Tuesday, September 21, 2010

Labor Department official analyzes June unemployment numbers - Denver Business Journal:

http://www.netook.org/MountainRegions.html
percent in June from 9.4 percent in May, the 's said last Here is testimony on the latest unemploymenft data by BLS Commissioner Keith Hall as preparedf for delivery last week to the Joinr Economic Committeeof Congress. Nonfarm payroll employmen continued to fall inJune (-467,000), and the unemploymentt rate was little changed at 9.5 percent. Since the recessionh began in December payroll employment has droppedby 6.5 and the unemployment rate has increased by 4.6 percentage Payroll employment declines continued to be widespread among the major industries. In June, there were largs decreases in manufacturing, construction, and professionap and business services.
Together, these threde sectors have accounted fornearly three-quarters of the jobs lost sincse the recession began. Manufacturing employment fell by 136,0000 in June, bringing job loss in this industryto 1.9 millionn since the start of the recession. Motor vehicle and parts employment declinedby 27,000 over the month; sinced the start of the recession, the industrg has lost 335,000 jobs, about one-third of its Construction employment decreased by 79,009 in June. Job losses in the industr havetotaled 1.3 million during this recession. Employment in professional and businesz services droppedby 118,000 in June.
Job losses occurred throughout the including temporary helpservices (-38,000), services to buildingss and dwellings (-17,000), and architectural and engineering services (-14,000). Since the start of the professional and business services haslost 1.5 milliomn jobs; temporary help services accountedc for over half of this decline. Federall government employment fellby 49,000 in largely reflecting the layoff of workers temporarily hired to prepare for Census 2010. Elsewhere in the service-providing sector, job losses continued in financialactivitiese (-27,000), information (-21,000), and wholesale tradre (-16,000).
Retail trade employment edgee down over themonth (-21,000); lossews continued among auto dealerships The health care industry added 21,00p jobs over the month, in line with its averag e monthly gain for the first 5 monthzs of this year, but beloe the average gain of 30,000 jobs per montnh in 2008. Average hourly earnings for production and nonsupervisorhy workers in the private sectodr were unchanged in June at Over the past12 months, average hourly earnings have risen by 2.7 From May 2008 to May 2009, the Consumetr Price Index for Urban Wage Earners and Clerical Workers declined by 1.5 percent. Turning to measures from the househols survey, the unemployment rate was littlee changedat 9.
5 percent in June. The rate had increased by 0.4 or 0.5 percentager points in each of the prior 6 Since the onset of the recession inDecemberf 2007, the unemployment rate has risen by 4.6 percentags points. There were 14.7 million unemployed persons in little changed from theprior month. Sincse December 2007, unemployment has risemn by 7.2 million. The number of person s unemployed for 27 weeks or longer continued to increasein June. The 4.4 million long-term jobless individuals accounted for 3 in 10 unemployed The employment-population ratio edged down to 59.5 percent in June. The ratilo has fallen by 3.2 percentage points since the recessiom began. Among the employed, there were 9.
0 milliobn persons working part time in June who woulxd havepreferred full-time work. Afterr rising sharply last falland winter, this measure has been littl changed since March. In summary, nonfarm payroll employment continued to fall in June with job lossestotaling 6.5 million since the recession The unemployment rate, at 9.5 percent, was little changed over the

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