125,000 Jobs Lost In June, But Unemployment Rate Drops Slightly

The monthly unemployment rate dropped slightly from 9.7 % to 9.5% in June, but the economy also shed 125,000 jobs, according to data released Friday by the U.S. Bureau of Labor and Statistics.

The bureau attributed the lost jobs to the decline in Census 2010 employment. 225,000 Census taking positions and related temporary jobs were phased out last month.

The data also shows that the private sector added an additional 83,000 jobs in June, a circumstance that President Barack Obama trumpeted Friday.

“[The report] showed the six-straight month of job growth in the private sector,” Obama said during brief remarks at Andrews Air Force Base in Maryland. “We’re headed in the right direction.”

Although June’s unemployment rate is the lowest in nearly a year, the new numbers show that 14.6 million Americans continue to be out of work.

Unemployment Rate Rises Despite Jobs Increase

According to statistics released on Friday by the U.S. Department of Labor, the nation's unemployment rate rose to 9.9% in April. However, the economy experienced an uptick of jobs, to the tune of 290,000 added.

The biggest gains in employment were seen in the manufacturing, professional and business services, health care, and leisure and hospitality industries. Federal government employment also surged, likely due to the increased hiring of temporary census workers.

Despite the good news, House Republican Conference Chairman Mike Pence (R-Ind.) slammed the Obama administration for failing to bring down the overall jobless rate.

“These are difficult times for America’s families and today’s unemployment report delivers even more bad news," said Pence. "Democrats continue to advance a liberal agenda that is doing more harm than good. The Democrat policies of taxing, spending and bailouts are having a chilling effect on job creators across the country."

Conversely, White House Council of Economic Advisers Chair Christina Romer viewed the new numbers positively.

"Today’s employment report shows the strongest signs yet of healing in the labor market, as private nonfarm payrolls expanded substantially," she wrote. "The current numbers now show that employment has grown in each of the past four months."

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Unemployment In March Holds At 9.7 Percent

Unemployment in March stayed at 9.7 percent, according to data released by the Bureau of Labor Statistics Friday.

While the overall unemployment rate has held steady from the previous month, the bureau reports that nonfarm payroll employment has risen by 162,000.

Gains have been made in health care, manufacturing and temporary services. An influx of employees hired to perform the U.S. census also accounted for 48,000 temporary jobs.

February Unemployment Rate Holds At 9.7 Percent

By Laurel Brishel Prichard
University of New Mexico/Talk Radio News Service

According to statistics released by the U.S. Bureau of Labor and Statistics (BLS), the nation's official unemployment rate remained at 9.7% in February. The BLS estimates that 14.9 million Americans are currently out of work.

The U6 rate, often referred to as the "real" unemployment rate because it combines the total number of unemployed plus the number of people working part time for economic reasons, rose to 16.8 percent, up from 16.5% in January.

The areas of the economy hit hardest last month were construction, with 64,000 jobs lost, and the information industry, with 18,000 jobs lost.

In a sign that businesses are still wary of conducting full-time hiring, temporary help services received an influx of 48,000 jobs in February. 284,000 temp jobs have been added in the U.S. since September of 2009.

Although the major winter storms that hit much of the East Coast last month have been cited by some as contributing to the not-so-great numbers, the BLS says there is no way to tell exactly how badly the storms impacted the job sector. Individuals that missed work as a result of the winter weather were counted as employed regardless of whether or not they were paid.

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Bernanke: Job Market Remains Quite Weak

By Benny Martinez - University of New Mexico/Talk Radio News Service

Chairman of the Federal Reserve Ben Bernanke told the House Financial Services Committee Wednesday that he anticipates a moderate pace to economic recovery, but still has doubts regarding the weak state of the job market.

“Some recent indicators suggest that the deterioration in the labor market is abating,” Bernanke said. “Job losses have slowed and the number of full-time jobs rose modesetly...and claims for unemployment insurance have continued to trend lower.”

Record-low interest rates remain a necessity to boost the economy on a national level, he said. But Bernanke explained that his biggest concern about the economy is the job market. He estimated that the unemployment rate will plateau between six and seven percent by 2012, about one percent higher than an ideal five percent, which is necessary to reacquire a sustainable economy.

“[The jobs market] remains quite weak, with the unemployment rate near 10 percent and job openings scarce,” Bernanke said.

To add to his short-term unemployment concerns, Bernanke said the nation's long-term unemployment rate is an issue.

“Of particular concern...is the increasing incidence of long-term unemployment,” Bernanke said. “More than 40 percent of the unemployed have been out of work for six months or more, nearly double the share of a year ago.”