Hiring Weakness Continues With June Jobs Report
Posted on July 6, 2012June was another weak month for hiring in the United States. The economy managed a very unimpressive gain of 80,000 jobs in June. This is almost identical to the meager 77,000 jobs created in May. The last three months have been disappointing and there are concerns negative numbers could appear again in the months ahead.
There was a noteworthy slow down in Q2. In the second quarter, employment growth averaged just 75,000 per month, compared with an average monthly gain of 226,000 for the first quarter of the year.
The unemployment rate was steady at 8.2%, however CNN/Money reports that the underemployment rate rose to 14.9% in June.
The strongest category in June was professional and business services which added 47,000 jobs.
Take a look: