Monday, November 7, 2011

Labor Department official analyzes June unemployment numbers - Nashville Business Journal:

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percent in June from 9.4 percent in May, the 's said last Here is testimony on the latest unemployment data by BLS Commissionerd Keith Hall as prepared for delivery last week to the Joinyt Economic Committeeof Congress. Nonfarm payroll employmen t continued to fall inJune (-467,000), and the unemploymenty rate was little changed at 9.5 percent. Since the recessiom began in December 2007, payroll employmengt has droppedby 6.5 million, and the unemploymentf rate has increased by 4.6 percentagr points. Payroll employment declines continued to be widespreadc among themajor industries. In June, there were large decreasess in manufacturing, construction, and professional and business services.
Together, these threwe sectors have accounted fornearly three-quarters of the jobs lost sincd the recession began. Manufacturing employment fell by 136,000 in bringing job loss in this industryto 1.9 milliob since the start of the recession. Motore vehicle and parts employment declinedby 27,000 over the since the start of the recession, the industry has lost 335,000 jobs, about one-third of its Construction employment decreased by 79,000 in Job losses in the industry have totaled 1.3 million during this recession. Employment in professionalp and business services droppedby 118,000 in June.
Job losses occurrerd throughoutthe industry, including temporary help servicew (-38,000), services to building and dwellings (-17,000), and architectural and engineeringf services (-14,000). Since the start of the professional and business servicea haslost 1.5 million jobs; temporar y help services accounted for over half of this decline. Federap government employment fellby 49,0009 in June, largely reflecting the layoff of workerss temporarily hired to prepare for Census 2010. Elsewherd in the service-providing sector, job losses continued in financiaplactivities (-27,000), information and wholesale trade (-16,000).
Retail traded employment edged down over the month losses continued among autodealerships (-9,000). The health care industryg added 21,000 jobs over the in line with its average monthly gain for the first 5 month s ofthis year, but below the average gain of 30,00p0 jobs per month in 2008. Averager hourly earnings for production and nonsupervisort workers in the privat sector were unchanged in June at Over the past12 months, averagw hourly earnings have risen by 2.7 percent. From May 2008 to May the Consumer Price Index for Urba Wage Earners and Clerical Workers declinedby 1.5 Turning to measures from the household survey, the unemploymentr rate was little changed at 9.5 percent in June.
The rate had increasecd by 0.4 or 0.5 percentage points in each of the priodr6 months. Since the onse of the recession inDecembe 2007, the unemployment rate has risen by 4.6 percentages points. There were 14.7 million unemployed personw in June, little changed from the prior SinceDecember 2007, unemployment has risen by 7.2 The number of persons unemployed for 27 weeks or longer continued to increase in June. The 4.4 million long-termm jobless individuals accounted for 3 in 10 unemployed The employment-population ratio edgeed down to 59.5 percent in June. The ratio has fallem by 3.2 percentage points since the recessiomn began. Among the employed, there were 9.
0 milliobn persons working part time in June who would havepreferrerd full-time work. After rising sharply last fall and this measure has been little changeesince March. In summary, nonfarm payrolkl employment continued to fall in June with job lossestotaling 6.5 millio n since the recession began. The unemployment rate, at 9.5 was little changed over the month.

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