WASHINGTON, D.C. – The U.S. economy added a better-than-expected 195,000 jobs in June, but the unemployment rate was unchanged at 7.6 percent.
According to the U.S. Bureau of Labor Statistics, the job gains came in the leisure and hospitality, professional and business services, retail trade, health care, and financial activities sectors.
There are still 11.8 million people counted as unemployed, a number that hasn’t changed much since February. The unemployment rates for teens (24.0 percent) blacks (13.7 percent), and Hispanics (9.1 percent) are still significantly higher than the overall rate and show little or no change. The long-term unemployed – those jobless for 27 weeks or more – numbered 4.3 million according to the federal Bureau of Labor Statistics.
The employment-population ratio, which measures the proportion of the nation’s working-age population that is employed, is at 58.7 percent, and has not risen above 59 percent since the summer of 2009. Prior to that, the employment-population ratio had not been below 59 percent since January 1984.
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) increased by 322,000 to 8.2 million in June. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job.
The change in total nonfarm payroll employment for April was revised from +149,000 to +199,000, and the change for May was revised from +175,000 to +195,000. With these revisions, employment gains in April and May combined were 70,000 higher than previously reported. The Employment Situation for July is scheduled to be released on Friday, Aug. 2.
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