StagNATION: June Jobless Numbers Essentially Unchanged
(CNSNews.com) – On a Friday off for many Americans, the U.S. Labor Department released its June unemployment report, which says 11.8 million Americans are looking for, but cannot find, work.
The June jobless rate was 7.6 percent, unchanged from May, as total nonfarm payroll employment increased by 195,000 in June.
Both the number of unemployed Americans and the unemployment rate have shown little change since February.
According to BLS, employment rose in leisure and hospitality, professional and business services, retail trade, health care, and financial activities.
Among the major worker groups, the unemployment rate for adult women (6.8 percent) edged up in June, while the rates for adult men (7.0 percent), teenagers (24.0 percent), whites (6.6 percent), blacks (13.7 percent), and Hispanics (9.1 percent) showed little or no change.
In June, the number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 4.3 million. These individuals accounted for 36.7 percent of the unemployed. Over the past 12 months, the Labor Department noted, the number of long-term unemployed has declined by 1 million.
In June, 2.6 million persons were marginally attached to the labor force, essentially unchanged from a year earlier. (The 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 1.0 million discouraged workers in June, an increase of 206,000 from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are those who are not currently looking for work because they believe no jobs are available for them. The remaining 1.6 million persons marginally attached to the labor force in June had not searched for work for reasons such as school attendance or family responsibilities.
The civilian labor force participation rate, at 63.5 percent, and the employment-population ratio, at 58.7 percent, changed little in June. Over the year, the labor force participation rate is down by 0.3 percentage point.