Unemployment rate drops to 6.1%
There was some good news about the unemployment situation for the month of June. The Bureau of Labor Statistics reported drops in the unemployment rate, the number of people unemployed, and long-term unemployment.
The agency also reported that there was an increase in the number of jobs added to the economy. The industries that added the most jobs were professional and business service, retail trade, food services and drinking places, and health care.
After being stuck at 6.3% for the months of April and May, the unemployment rate dropped to 6.1% during the month of June.
June’s unemployment rate is also the lowest the unemployment rate has been since the economic recovery began in 2009.
The Bureau of Labor Statistics reported that 288,000 jobs were added to the economy. According to the White House, this brings the total number of jobs added to 9.7 million.
Based on information from the Bureau of Labor Statistics, the industry with the most jobs added in June was professional and business services (67,000).
Retail Trade came in second with 40,000 jobs added to the economy. The Bureau of Labor Statistics reported that food services and drinking places added 33,000 jobs, while the health care industry added 21,000 jobs.
As for the number of people unemployed, the agency reported that the number of people unemployed dropped from 9.825 million to 9.5 million.
The number of people, who were unemployed for long periods of time (27 weeks or greater) dropped from 3.393 million to 3.1 million.
However, the long-term unemployed continue to make up a significant amount, 32.8%, of the total number of people who are unemployed.
Jason Furman stated that the decreasing unemployment rate is a good sign, but that the president is concerned about the long-term unemployed.
According to Furman, President Obama will continue to use executive orders in order to assist those who are struggling economically.
Amongst some of the measures President Obama has taken is to partner with states, universities, and businesses in order to train workers for careers in competitive fields like technology and engineering.
President Obama has also issued an executive order to increase the federal minimum wage to $10.10/hr.
Two weeks ago, Speaker of the House John Boehner said that he will be filing a lawsuit against President Obama because of his decision to use executive orders to go around Congress.
President Obama told George Stephenopolous of ABC’s “This Week” that Boehner could “sue” him, and that his [President Obama] executive actions have been a result of Congress not acting on issues such as the minimum wage and the unemployment benefits bill.
The agency also reported that there was an increase in the number of jobs added to the economy. The industries that added the most jobs were professional and business service, retail trade, food services and drinking places, and health care.
After being stuck at 6.3% for the months of April and May, the unemployment rate dropped to 6.1% during the month of June.
June’s unemployment rate is also the lowest the unemployment rate has been since the economic recovery began in 2009.
The Bureau of Labor Statistics reported that 288,000 jobs were added to the economy. According to the White House, this brings the total number of jobs added to 9.7 million.
Based on information from the Bureau of Labor Statistics, the industry with the most jobs added in June was professional and business services (67,000).
Retail Trade came in second with 40,000 jobs added to the economy. The Bureau of Labor Statistics reported that food services and drinking places added 33,000 jobs, while the health care industry added 21,000 jobs.
As for the number of people unemployed, the agency reported that the number of people unemployed dropped from 9.825 million to 9.5 million.
The number of people, who were unemployed for long periods of time (27 weeks or greater) dropped from 3.393 million to 3.1 million.
However, the long-term unemployed continue to make up a significant amount, 32.8%, of the total number of people who are unemployed.
Jason Furman stated that the decreasing unemployment rate is a good sign, but that the president is concerned about the long-term unemployed.
According to Furman, President Obama will continue to use executive orders in order to assist those who are struggling economically.
Amongst some of the measures President Obama has taken is to partner with states, universities, and businesses in order to train workers for careers in competitive fields like technology and engineering.
President Obama has also issued an executive order to increase the federal minimum wage to $10.10/hr.
Two weeks ago, Speaker of the House John Boehner said that he will be filing a lawsuit against President Obama because of his decision to use executive orders to go around Congress.
President Obama told George Stephenopolous of ABC’s “This Week” that Boehner could “sue” him, and that his [President Obama] executive actions have been a result of Congress not acting on issues such as the minimum wage and the unemployment benefits bill.
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