July Jobs Report: Unemployment Rate 9.1%, Small Job Gains in Private Sector Nearly Matched by Losses in Public Sector

KnowNOW!

Global Economic Watch

Syndication

Recent Posts

Tags

Archives

The unemployment rate has edged back down to 9.1%, as the US economy gained 117,000  as the US economy jobs in May, according to the latest report from the Department of Labor.  The private sectors continues to add jobs.  Notably, health care, retail trade, manufacturing, and mining led the way in hiring, while the public sector continued to lose jobs.  Here's a look at the unemployment trends from the Bureau of Labor Statistics:

Here are some of the key data from other areas we like to track in the monthly jobs report:

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was about unchanged in July at 8.4 million. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.

In July, 2.8 million persons were marginally attached to the labor force, little changed from a year earlier. (These data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey.

Among the marginally attached, there were 1.1 million discouraged workers in July, about the same as a year earlier. (These data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.7 million persons marginally attached to the labor force in July had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.

Read the full report from the BLS here.


Posted 08-05-2011 9:49 AM by Graham Griffith
You must login to your account to comment. If you do not have an account, please register to enjoy the full benefits of the site!