The Economy Adds 222,000 Jobs in June, and Unemployment Little Changed at 4.4%

Posted by | July 07, 2017 | Uncategorized | No Comments

By Kenneth Quinnell The Economy Adds 222,000 Jobs in June, and Unemployment Little Changed at 4.4%

The U.S. economy added 222,000 jobs in June, and unemployment was little changed at 4.4%, according to figures released this morning by the U.S. Bureau of Labor Statistics. This continues the recovery of the labor market at a tempered rate, which means the Federal Reserve’s Open Market Committee should continue to let the economy grow and not raise interest rates.

In response to the June jobs numbers, AFL-CIO Chief Economist William Spriggs tweeted:

Republican efforts to repeal ACA causes uncertainty in health care, job gains slow.

— William E. Spriggs (@WSpriggs) July 7, 2017

Broader measures of labor market slack show an up tic in June, including the marginally attached and those seeking full-time work @AFLCIO

— William E. Spriggs (@WSpriggs) July 7, 2017

Trump Effect: ACA repeal fight and uncertainty of Medicaid cuts leads to losses in nursing care facilities down 10,700 over last June

— William E. Spriggs (@WSpriggs) July 7, 2017

Over the year, average hourly earnings up 2.5%, good but still modest. Still no reason for the Fed to raise rates again this year. @AFLCIO

— William E. Spriggs (@WSpriggs) July 7, 2017

Unemployment rates for Blacks and whites with Associate Degrees and Bachelor Degrees go in opposite directions over last June–up for Blacks

— William E. Spriggs (@WSpriggs) July 7, 2017

Last month’s biggest job gains were in health care (37,000), professional and business services (35,000), food services and drinking places (29,000), social assistance (23,000), financial activities (17,000), and mining (8,000). Employment in other major industries, including construction, manufacturing, wholesale trade, retail trade, transportation and warehousing, information, and government, showed little change over the month.

Among the major worker groups, the unemployment rates for teenagers (13.3%), blacks (7.1%), Hispanics (4.8%), adult men (4.0%), adult women (4.0%), whites (3.8%) and Asians (3.6%) showed little or no change in June.

The number of long-term unemployed (those jobless for 27 weeks or more) was little changed in June and accounted for 24.3% of the unemployed.

Kenneth Quinnell
Fri, 07/07/2017 – 12:27

Source: AFL-CIO

Leave a Reply

Your email address will not be published.