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U.S. Unemployment Rate Hits 9.2% in June

The addition of 18,000 jobs last month was not enough to move the needle on the unemployment rate.

A newly released Bureau of Labor Statistics report shows total nonfarm payroll employment reached 18,000, raising the U.S. unemployment rate to 9.2%. The results confirmed analysts' fears of an economic slowdown, given last month's poor jobs report. The U.S. economy appeared to have gained steam at the beginning of the year, with gains averaging 215,000 per month from February through April. However, employment has been essentially flat for the past 2 months.

Following is a breakdown by sector:
 

  • Following gains totaling 164,000 between November 2010 and April 2011, manufacturing employment has been flat for the past 2 months. In June, gains of 8,000 jobs in the category of fabricated metal products were partially offset by a loss of 5,000 positions in wood products.
  • Construction employment was essentially unchanged in June. In fact, after having fallen sharply during the 2007-09 period, employment in construction has shown little movement on net since early 2010.
  • Within professional and business services, employment in professional and technical services increased in by 24,000. What's more, this sector has added 245,000 jobs since a recent low in March 2010.
  • Employment in temporary help services changed little over the month and has shown little movement on net so far this year.
  • Health care employment continued to trend up, increasing by 14,000 positions in June. The largest gain was seen in ambulatory health care services. Over the prior 12 months, health care had added an average of 24,000 jobs per month.
  • Employment in mining rose by 8,000 last month, with most of the gain occurring in support activities for mining. Employment in mining has increased by 128,000 since a recent low in October 2009.
  • Employment in leisure and hospitality edged up (+34,000) in June and has grown by 279,000 since a recent low in January 2010.
  • Employment in government continued to trend down over the month, dropping by 39,000. Employment in both state government and local government has been falling since the second half of 2008.

The complete June jobs report is available online.

 

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Aerospace  •  Automotive  •  Defense & Military  •  Electronics  •  Industry Trends & Happenings

 

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