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Friday, July 6, 2012

June 2012 Jobs Numbers Summary

June Jobs Reports & Summaries:

  • June summary:  A bland report with few new jobs but more people working full-time, and increases in weekly hours and wages.  April  jobs numbers revised downwards; May jobs numbers revised upwards.
  • However, 156,000 more people jumped into the labor market (labor force) and the total number of people reporting themselves as employed was up 128,000.  
  • Economy adds 80,000 jobs in June.  (This is a net number; in other words, this refers to the total number of jobs reported by employers.  80,000 more jobs were created than lost in May in seasonally adjusted numbers.)  This is an improvement over the 69,000 new jobs announced in May. 
  • Private employers add 84,000 jobs in June.  Manufacturing added 13,000 jobs in June, but May manufacturing numbers were revised downwards. 
  • May jobs numbers were revised upwards by 8,000 total; April private sector numbers were revised downwards by 9,000.  
  • Unemployment rate stays the same at 8.2% as 29,000 MORE people reported themselves as unemployed, and as about 156,000 MORE people reported themselves as in the labor force.  (Those people started looking for work.)  
  • Another bright spot of this report is that 128,000 MORE people reported themselves as employed in June vs. May.  
  • In unadjusted "raw" numbers475,000 MORE people reported themselves as employed in June.  This increase adjusted to 128,000 MORE employed people.   In unadjusted "raw" numbers, employers reported adding 391,000 new jobs, which is in line with the 475,000 people reporting themselves as employed.  However, the 391,000 new jobs adjusted down to only 80,000 new jobs in total.  
  • The number of people not in the labor force increased by 34,000.
  • Unemployment among minorities and people without a high school education went up, but those unemployment rates are still significantly lower than they were a year ago for all ethnic and racial groups. 
  • Unemployment among people with college degrees went up and now stands at 4.1%, an increase of .2% over the May rate.
  • The number of people unemployed over 27 weeks decreased by 41,000 and is now 56,000 lower than the number of long-term unemployed in February 2012.  The average duration of unemployment edged up to 39.9 weeks from 39.7 weeks in June.  
  • The number of people who are unemployed because they permanently lost their jobs (vs. entering or re-entering the job market or being on temporary layoff) decreased to 46.3% of the total unemployed.  This rate is  below what it was in February 2012 and a year ago.  
  • Underemployment (U-6) rate went up to 14.9% (from 14.8%).
  • Number of people working part-time who want full-time work increased by 112,000.  This is the fourth month in a row that this number has increased.
  • The number of full-time workers increased by about 361,000; number of part-time workers decreased by about 144,000.  However, we do have about 2,600,000 MORE people working full-time than we did a year ago.

  • Private & Government Jobs Lost & Gained Under Obama (June update)
  • What was the unemployment rate when Obama Took Office? (June 2012 update)
  • How Many Jobs Created or Lost in June 2012?
  • How Many Jobs Created or Lost in 2012 To Date? (June update)
  • Private Government Jobs Gained/Lost Month by Month 2011 2012
  • Jobs Lost/Created Year by Year Since 1999 (June 2012 Update)
  • ADP Jobs Report for June HERE!
  • How Many Jobs Lost Before Obama Took Office?
  • Latest Jobs Reports & Numbers HERE!

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