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Journalism of Courage
In a grim reminder of labour market woes,the US economy added just 18,000 new jobs in June,much lower than expected,while unemployment rate rose to 9.2 per cent.
The latest official figures come as a dampener for hopes of strong labour market recovery.
Non-farm payroll employment was essentially unchanged in June (+18,000)… Employment in most major private-sector industries changed little over the month. Government employment continued to trend down, said US Bureau of Labour Statistics.
The jobless rate climbed to 9.2 per cent last month from 9.1 per cent in May.
Last month,there were 14.1 million unemployed persons and since March,the count of jobless people has increased by 545,000.
The unemployment rate for adult men stood at 9.1 per cent in June,while that of adult women was at 8 per cent.
The number of persons unemployed for less than 5 weeks increased by 4,12,000 in June, BLS said in a statement.
In recent times,various government agencies are under budgetary pressures,which has also adversely impacted Federal employment trends.
Employment in government continued to trend down over the month (-39,000). Federal employment declined by 14,000 in June. Employment in both state government and local government continued to trend down over the month and has been falling since the second half of 2008, the statement noted.
Meanwhile,ADP National Employment Report released yesterday showed that American private companies created 1,57,000 new jobs in June.
