Friday, July 05, 2013

THE EMPLOYMENT SITUATION —JUNE 2013


Total nonfarm payroll employment increased by 195,000 in June, and the unemployment rate was unchanged at 7.6 percent, the U.S. Bureau of Labor Statistics reported today. 

Employment rose in leisure and hospitality, professional and business services, retail trade, health care, and financial
activities.

Household Survey Data

The number of unemployed persons, at 11.8 million, and the unemployment
rate, at 7.6 percent, were unchanged in June. Both measures have shown
little change since February. (See table A-1.)

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. The
jobless rate for Asians was 5.0 percent (not seasonally adjusted), down
from 6.3 percent a year earlier. (See tables A-1, A-2, and A-3.)

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 number of long-term unemployed has declined by 1.0 million. (See
table A-12.)

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. (See table A-1.)

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. (See table A-8.)

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. (See table A-16.)

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 persons 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. (See table A-16.)

Read the full blown report with tables - U.S. Bureau of Labor Statistics Report

Original content +Bob DeMarco  , All American Investor