Posted by: John_Hamilton on 07/06/2012 08:16 AM
Updated by: John_Hamilton on 07/06/2012 08:16 AM
Expires: 01/01/2017 12:00 AM
:
Unemployment Unchanged at 8.2%...Only 80,000 Jobs Added
Washington, DC...Nonfarm payroll employment continued to edge up in June (+80,000), and the unemployment rate was unchanged at 8.2 percent. Employment growth averaged 75,000 per month in the second quarter of the year, compared with an average monthly increase of 226,000 in the first quarter. Slower job growth in the second quarter occurred in most major industries....
Employment in professional and business services grew by
47,000 in June. Since the most recent low in September 2009,
employment in the industry has risen by 1.5 million. Much of the
growth occurred in temporary help services, which added 25,000
jobs over the month and 776,000 jobs since September 2009.
Manufacturing employment continued to edge up in June
(+11,000). Job gains averaged 10,000 per month in the second
quarter, compared with an average of 41,000 per month in the
first quarter.
In June, employment continued to trend up in health care
(+13,000) and in wholesale trade (+9,000). Employment in other
major industries changed little over the month.
Average hourly earnings of all employees on private nonfarm
payrolls increased by 6 cents in June to $23.50. Over the past
12 months, average hourly earnings have risen by 2.0 percent.
From May 2011 to May 2012, the Consumer Price Index for All Urban
Consumers (CPI-U) increased by 1.7 percent.
Turning now to our survey of households, the unemployment
rate held at 8.2 percent in June, and the number of unemployed
persons was essentially unchanged at 12.7 million. The labor
force participation rate, at 63.8 percent, and the employment-
population ratio, at 58.6 percent, were unchanged over the month.
These major labor force indicators have shown little movement in
the first half of 2012.
In summary, nonfarm payroll employment continued to edge up
in June, and the unemployment rate remained at 8.2 percent.
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