Economy Gains 213,000 Jobs in June; Unemployment Little Changed at 4.0%

The U.S. economy gained 213,000 jobs in June, and unemployment was little changed at 4.0%, according to figures released this morning by the U.S. Bureau of Labor Statistics. Since the labor market continues to recover at only a tempered pace, the Federal Reserve’s Open Market Committee should not raise interest rates.

 

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

 

 

While white and Hispanic unemployment rates remained low, the jump in June's unemployment rates came from Blacks (from 5.9 up to 6.5%) and Asian Americans (2.1 to 3.2%) @CBTU72 @rolandsmartin @APRI_National @AFLCIO @APALAnational

 

 

The big jump in the Black unemployment rate in June was largely from Black adult women (from 4.7 to 5.5%), though their share employed continued to climb (59.1 to 59.5%) and labor force participation reached 63%. @SistahScholar @LVBurke @AprilDRyan @APRI_National @AFLCIO

 

 

Not adjusting for inflation, year-over-year, average hourly earnings were up 2.7% in June. This is a timid number. Coupled with the unemployment rate increase from a tiny climb in labor force participation @federalreserve needs to rethink interest rate increases. @AFLCIO

 

 

In a sign that workers are coming back to the labor market, in June, the broadest measure of unemployment that includes discouraged and part-time workers who want full-time work, went up from 7.6 to 7.8%. This shows continued slack in labor market. @AFLCIO

 

 

First decision hurt organizing, now workers for state government continue to show pressures from state budget austerity. State employment continues downward trend in June. This means less public investment for the rest of us. @AFSCME @AFLCIO

Last month’s biggest job gains were in professional and business (50,000), manufacturing (36,000), health care (25,000), construction (13,000) and mining (5,000). Retail trade lost 22,000 jobs. Employment showed little or no change over the month in other major industries, including wholesale trade, transportation and warehousing, information, financial activities, leisure and hospitality, and government.

Among the major worker groups, the unemployment rates increased for blacks (6.5%), adult men (3.7%), adult women (3.7%) and Asians (3.2%). The unemployment rate for teenagers (12.6%), Hispanics (4.6%) and whites (3.5%) showed little or no change in June.

The number of long-term unemployed (those jobless for 27 weeks or more) increased in June and accounted for 23.0% of the unemployed.

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