In June 2014:
- 288,000 TOTAL payroll jobs were ADDED in seasonally adjusted numbers.
- 262,000 PRIVATE payroll sector jobs were ADDED in seasonally adjusted numbers.
- 26,000 GOVERNMENT (federal, state, and local) jobs were added in June.
- 407,000 MORE people employed.
- 523,000 FEWER people employed full-time.
- 799,000 MORE people employed part-time.
- 81,000 MORE people in the civilian labor force (people either working or looking for work).
- 325,000 FEWER people unemployed.
- Unemployment rate drops significantly to 6.1% (from 6.3%) primarily due to the many fewer unemployed people and many MORE employed people in June.
June 2014 jobs numbers and unemployment reports were released Thursday morning, Thursday, July 3rd. Graphs, details, and analysis will be published Thursday and over the weekend.
Please check back for latest numbers and charts!
523,000 FEWER people employed full-time, 799,000 MORE people employed part-time. That does not sound good. What is causing so many new jobs to be only part-time jobs? How come so many full-time jobs are being eliminated?
ReplyDeleteThe number of people employed working full-time vs. part-time comes from the Current Population Survey, conducted on behalf of the BLS by the Census. Because the sample is relatively small (about 100,000 people, 60,000 households), it tends to be somewhat volatile. It is easily affected by the weather, by the day of the week, by holidays, etc. It is also a seasonally adjusted number, and seasonal adjustments are sometimes a bit hinky. Therefore, it is never a good idea to use these numbers, the numbers of people employed/unemployed out of context.. They should only be regarded over a period of months or, better yet, year over year.
DeleteThe number of people working full-time has increased by about 2.2 million over the past year, and about 7.6 million since the "trough" of the recession. The number of people working part-time has increased by 10,000 (yes, that is 10 thousand, not even 100 thousand) over the past year, and only about 800,000 since the "trough" of the recession in late 2009/early 2010. Over the past year, the number of people working full-time has decreased in two months, both by about 500,000 full-time workers, and increased in the other 10 months, by an average of 320,000 full-time workers. So any change in one month is generally meaningless unless a pattern surfaces over a number of months.
This is awesome
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