80K New Jobs Added in June, Unemployment Rate Unchanged

The number of new jobs last month missed economists' forecasts

   

80K New Jobs Added in June, Unemployment Rate Unchanged

Data released this morning by the Labor Department showed that the U.S. economy added just 80,000 jobs in June. That fell well short of the 100,000 jobs that economists had forecast for the month, Bloomberg noted.

The number of jobs added in May was revised upward from a previously announced 69,000 to 77,000.

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7 Ugly U.S. Jobs Numbers Are MUCH More Important Than Europe

During June, private employers hired just 84,000 workers, the lowest number since September. The government said the national unemployment rate remained unchanged last month at 8.2%.

Last month, the manufacturing sector added 11,000 jobs, marking its ninth consecutive monthly increase. The health care and financial services sectors also added jobs, while the transportation and retail sectors trimmed their payrolls.

Governments cut 4,000 workers last month.

In June, workers earned an average hourly wage of $23.50, up from $23.44 in May.

Economists cited by Bloomberg said they weren’t surprised by the weak job numbers and indicated that the jobs report simply highlighted the softness of the overall economy.


Article printed from InvestorPlace Media, http://investorplace.com/2012/07/80k-new-jobs-added-in-june-unemployment-rate-unchanged/.

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