| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

Home 
 
 News
 Irish
 Irish Economy
 EU Economy
 US Economy
 UK Economy
 Global Economy
 International
 Property
 Innovation
 
 Analysis/Comment
 
 Asia Economy

RSS FEED


How to use our RSS feed

Follow Finfacts on Twitter

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax - Income/Corporate

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : US Economy Last Updated: Jul 4, 2014 - 7:30 AM


US added 288,000 jobs in June; Unemployment rate fell to 6.1%
By Finfacts Team
Jul 3, 2014 - 3:02 PM

Email this article
 Printer friendly page

US nonfarm payroll employment rose by 288,000 in June, and the unemployment rate declined by 0.2 percentage point to 6.1%. Job gains were widespread, led by employment growth in professional and business services, retail trade, food services, and health care.

Incorporating the revisions for April and May, which increased total nonfarm employment by 29,000 on net, monthly job gains have averaged 272,000 over the past 3 months. In the 12 months prior to June, employment growth averaged 201,000 per month.

In June, employment in professional and business services rose by 67,000; the prior 12-month average gain was 53,000 per month. Employment increased in June in management and technical consulting, architectural and engineering services, and computer systems design. Employment in temporary help services continued to trend up (+10,000) and has grown by 216,000 over the past year.

Retail trade employment rose by 40,000 in June. Over the prior 12 months, retail added an average of 26,000 jobs per month. In June, job gains occurred in motor vehicle and parts dealers (+12,000), building material and garden supply stores (+8,000), and electronics and appliance stores (+7,000).

Employment in food services and drinking places rose by 33,000 in June. Over the year, food services has added 314,000 jobs.

Health care added 21,000 jobs in June, in line with its average monthly gain (+18,000) for the prior 12 months. In June, employment continued to trend up in ambulatory health care services (which includes doctors’ offices, outpatient care, and home health care).

Transportation and warehousing employment increased by 17,000 in June. Over the prior 12 months, this industry had added an average of 11,000 jobs per month. Couriers and messengers contributed 6,000 jobs in June.

Financial activities added 17,000 jobs in June, with about half of the gain in insurance carriers and related activities (+9,000). Over the prior 12 months, financial activities added an average of 5,000 jobs per month.

Manufacturing employment rose by 16,000 over the month and by 130,000 over the past year. Durable goods added 17,000 jobs in June and has accounted for almost all of the net job gain in manufacturing over the past 12 months. In June, employment rose in both motor vehicles and parts (+6,000) and in computer and peripheral equipment (+3,000).

Wholesale trade employment increased by 15,000 over the month and by 140,000 over the year.

Average hourly earnings of all employees on private nonfarm payrolls rose by 6 cents in June. Over the past 12 months, average hourly earnings have risen by 2.0%. From May 2013 to May 2014, the Consumer Price Index for All Urban Consumers (CPI-U) rose by 2.1%.

Turning now to the survey of households, the unemployment rate declined by 0.2 percentage point in June to 6.1%, and the number of unemployed persons fell by 325,000 to 9.5m. Over the past 12 months, the unemployment rate has declined by 1.4 percentage points, and the number of unemployed has decreased by 2.3m. About half of the decline in unemployment over the past year occurred among the long-term unemployed (those jobless for 27 weeks or more).

In June, the labour force participation rate was 62.8% for the third month in a row and the lowest since 1948. The employment-population ratio, at 59.0%, was little changed over the month but was up 0.3 percentage point from a year ago.

Among the employed, the number of persons working part time for economic reasons rose by 275,000 to 7.5m in June. (These individuals would have preferred full-time employment, but had their hours cut or were unable to find full- time work.) The number of these workers is down over the year but has shown no clear trend in recent months.

Among persons who were neither working nor looking for work in June, 2.0m were classified as marginally attached to the labour force, down by 554,000 from a year earlier. (These individuals had not looked for work in the 4 weeks prior to the survey but wanted a job, were available for work, and had looked for a job within the last 12 months.) The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, was 676,000 in June, down by 351,000 from a year ago.


© Copyright 2011 by Finfacts.com

Top of Page

US Economy
Latest Headlines
US jobs rose by 215,000 in July; Unemployment rate stable at 5.3%
US economy grew at weak pace in Q2 2015 - Worst expansion since 1945
Decoupling of per capita GDP, productivity, private employment, and median family income in America
US economy stumbles again in 2015
Income gap highest in 30 years; No inequality rise in best-paying US firms
Fed minutes raise doubts about fragility of US recovery
Senate Democrats block trade deal authority for Obama
Five firms held 25% of top US non-financial companies cash pile in 2014
US added 223,000 jobs in April; Broad jobless rate at 10.8%
Investment struggles as dividends/ share buybacks at top US firms to exceed $1tn in 2015
US economic growth plunged in Q1 2015
Why the Fed may (almost) never raise interest rates
US jobless rate falls to 5.5%; Broad rate at 11%; Participation rate at 1978 level
US added 257,000 jobs in January; Broad jobless rate at 11.3%
US economy will soon see best years in a decade
US annualised GDP slowed sharply in final quarter 2014
US budget deficit to fall to 2.6% of GDP in 2015
US added 252,000 jobs in December; Jobless rate falls to 5.6%
US adds 321,000 jobs in November; Private sector adds 10.9m jobs in 57 months of growth
US manufacturing slowed in November
US retail spending over Thanksgiving weekend fell 11%
US consumer spending weak in October; Business investment fell again
US third-quarter GDP revised up to 3.9% annualised rate
After destroying banking secrecy US helps Swiss exporters
US oil imports from OPEC cartel at 30-year low
Tax-inverted "Irish" firm Actavis agrees to buy US Botox maker Allergan
US nonfarm payroll employment rose 214,000 in October' Jobless @ 6-year low
Swiss bankers await fallout of US tax evasion acquittal
Two PMI reports give contrasting trends on US manufacturing
US GDP increased at annualised 3.5% in third quarter of 2014
US city home price growth slowed again in August; Consumer confidence rebounded in September
US new orders for manufactured durable goods fell again in September
Loans to buy US shares at record highs
Global markets slide; US industrial production best in 3 years & jobless claims in 14-year low
US federal budget deficit dips to 2.9% of GDP in fiscal year 2014
US added 248,000 jobs in September; Jobless rate falls to 5.9%
US set to become world’s leading liquid petroleum producer again
Obama issues new rules to combat tax inversions
US Securities and Exchange Commission to pay $30m award to foreign whistleblower
Typical American household income in 2013 was below the 1989 level