Blockbuster June Employment Report
The June employment report is out. It came out above expectations. 288,000 new jobs were added. The unemployment rate fell to 6.1%. Additionally the April and May jobs report were revised upward. April was revised from +282,000 to +304,000, and the change for May was revised from +217,000 to +224,000. With these revisions, employment gains in April and May were 29,000 higher than previously reported.
The Bureau Of Labor (BLS) statistics report the following.
In June, the unemployment rate declined by 0.2 percentage point to 6.1 percent. The number of unemployed persons decreased by 325,000 to 9.5 million. Over the year, the unemployment rate and the number of unemployed persons have declined by 1.4 percentage points and 2.3 million, respectively. (See table A-1.)
Among the major worker groups, the unemployment rates for adult women (5.3 percent) and blacks (10.7 percent) declined in June, and the rate increased for teenagers (21.0 percent). The rates for adult men (5.7 percent), whites (5.3 percent), and Hispanics (7.8 percent) showed little change. The jobless rate for Asians was 5.1 percent (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)
The number of long-term unemployed (those jobless for 27 weeks or more) declined by 293,000 in June to 3.1 million; these individuals accounted for 32.8 percent of the unemployed. Over the past 12 months, the number of long-term unemployed has decreased by 1.2 million. (See table A-12.)
The economy is recovering even as continued Republican obstruction to infrastructure projects and other employment created public investment continue. If Americans vote their own economic interest in 2014, the economy will explode in 2015.
Americans must take their own well being into account. They must make themselves immune to irrelevant issues. Employment is better with liberal policies as such they must elect liberal politicians to solve the country's economic and social problems.