Unemployment Rate Stagnates at 9.2%; With Only 18,000 Jobs Added in June

For the second month, the unemployment rate remained at a standstill, rising by a .1 percentage point to 9.2 percent in June and adding only 18,000 jobs in June, according to the Bureau of Labor Statistics. Lackluster job gains continues to contribute to concerns for an economic recovery, with gains well below the gains made from February through April of 215,000 per month. Where are the job gains?In May we saw slight growth in certain sectors including professional and business services, health care, and leisure and hospitality, and this slight growth continued in these sectors for June. According to the BLS:

  • Professional and business services saw gains of 24,000. This industry has added 245,000 jobs since a recent low in March 2010.
  • Health care continued to add with 14,000 jobs added in June, with the BLS indicated the biggest gain in ambulatory health care services. Over the past 12 months, health care has added 24,000 jobs on average per month.
  • Mining employmentrose by 8,000, with gains in support activities. Employment in mining has increased by 128,000 since a recent low in October 2009, according to the BLS.
  • Employment in leisure and hospitality added 34,000 jobs in June. This sector has added 279,000 jobs since a recent low in January 2010.
  • Temporary help services, manufacturing and construction employment was essentially unchanged last month.

Job gains in these sectors; however, have been offset by decline in employment in government (down over 39,000) and layoff of 14,000 last month at the local and state level. Unemployment and Race Currently 14.1 million Americans remained unemployed. Of these workgroups, BLS reports that unemployment rates differ. Adult men have an unemployment rate of 9.1 percent vs. adult women, 8.1 percent. Teens, not unexpected, are showing a rate of 24.5 percent unemployment. In the ethnic sectors, unemployment varies by race. Blacks are reporting an unemployment rate of 16.2 percent and Hispanics 11.6 percent, while Asians have the lowest with 6.8 percent.

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