Employment Situation Summary--nonfarm payrolls drop by 125K

[NHSparky]

Total nonfarm payroll employment declined by 125,000 in June, and the unemployment rate edged down to 9.5 percent, the U.S. Bureau of Labor Statistics reported today. The decline in payroll employment reflected a decrease (-225,000) in the number of temporary employees working on Census 2010. Private-sector payroll employment edged up by 83,000.

Both the number of unemployed persons, at 14.6 million, and the unemployment rate, at 9.5 percent, edged down in June. (See table A-1.)

Among the major worker groups, the unemployment rate for adult women (7.8 percent) declined, while the rates for adult men (9.9 percent), teenagers (25.7 percent), whites (8.6 percent), blacks (15.4 percent), and Hispanics (12.4 percent) showed little or no change. The jobless rate for Asians was 7.7 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)

In June, the number of long-term unemployed (those jobless for 27 weeks and over) was unchanged at 6.8 million. These individuals made up 45.5 percent of unemployed persons. (See table A-12.)

The civilian labor force participation rate fell by 0.3 percentage point in June to 64.7 percent. The employment-population ratio, at
58.5 percent, edged down over the month. (See table A-1.) 

LINK


IOW, the participation rate, not the number of actual unemployed, is what drove the unemployment rate down to "just" 9.5 percent.  But if you look at the U-6, we're still at almost 17 percent.

We are so screwed.  November can't get here quickly enough.

[DumbAss Tanker]

Somewhat surprised it went down to 9.5%, actually, though there are all sorts of disparities between the official stat and what's really happening, many of which you mention.  Still, with the nominal improvement, expect a triumphant 'It's working, we've turned the corner on the horrible Bush economy, LOOK AT MEEEEEE!!!' speech from Obama.

[NHSparky]

800,000 people dropped out of the workforce, either through retirement or just giving up looking for a job.  It's that latter category which is driving the numbers down.  When people started coming back a couple of months ago, it rose up.  If there's any sign of improvement, people will come back in and start looking, which will once again drive numbers back up.  When people's UEI runs out, and the administration can't print out checks for them anymore, look for the numbers to SKYROCKET.

[TheSarge]

Total nonfarm payroll employment declined by 125,000 in June, and the
unemployment rate edged down to 9.5 percent, the U.S. Bureau of Labor
Statistics reported today. The decline in payroll employment reflected
a decrease (-225,000) in the number of temporary employees working

[Happy Fun Ball]

We are so screwed.  November can't get here quickly enough.

I have a real bad feeling about 2011-2012. Sure, we may win big in November, but a couple of months later, the real nightmare starts because of all the new taxes and regulations. The media will naturally blame the Republicans for this and say something like, "The economy was recovering last year. We were about to finally make it out of the Bush recession, but the Republicans had to go and mess it up, and now look as where we are." Never mind that it was the Democrats who spent money like never before. The media will conveniently leave that part out, and the Republicans will get the full blame for the woes of next year. They will likely become so unpopular that they won't be able to get much done to fix the mess the Democrats got us into. Also, there will be the inevitable Republican that will lose his nerve because of this and try to compromise just to get along.

If the Republicans can get their act together and not fall for this trick or waver in the face of nonstop criticism and bad press, then maybe we'll have a chance to pull through this. Otherwise, it will be a long two years.


Of course, I really hope I'm wrong about this...

[bkg]

I have a real bad feeling about 2011-2012. Sure, we may win big in November, but a couple of months later, the real nightmare starts because of all the new taxes and regulations. The media will naturally blame the Republicans

Q.F.T.

Anyone who accuses Obama of being dumb is an idiot... this is well planned, well thought out and so far, well executed.

[ConservativeMobster]

If what Christie in NJ is hoping to accomplish does bear fruit and if the rest of the country follows suit I'm predicting a very good 2012

[bkg]

If what Christie in NJ is hoping to accomplish does bear fruit and if the rest of the country follows suit I'm predicting a very good 2012

That's a lot of "if" there.

'11 will be a recession, if not depression year. Too many regulations and tax increases to have economic growth. Just a sad state of affairs.

But it may also be a growth year for independed thinking and states taking back their leadership role... We'll have to see if anyone else has the balls to stand up for freedom.

[Carl]

Any of us old enough to have lived during Carters term knows what is likely coming.
An ecomomy bumbling along trying to feed a ravenous government.

[NHSparky]

I have a real bad feeling about 2011-2012. Sure, we may win big in November, but a couple of months later, the real nightmare starts because of all the new taxes and regulations. The media will naturally blame the Republicans for this and say something like, "The economy was recovering last year. We were about to finally make it out of the Bush recession, but the Republicans had to go and mess it up, and now look as where we are." Never mind that it was the Democrats who spent money like never before. The media will conveniently leave that part out, and the Republicans will get the full blame for the woes of next year. They will likely become so unpopular that they won't be able to get much done to fix the mess the Democrats got us into. Also, there will be the inevitable Republican that will lose his nerve because of this and try to compromise just to get along.

If the Republicans can get their act together and not fall for this trick or waver in the face of nonstop criticism and bad press, then maybe we'll have a chance to pull through this. Otherwise, it will be a long two years.


Of course, I really hope I'm wrong about this...

Newsflash--even if the Republicans DON'T take either the House or Senate, they'll still get blamed for it.  Hey, it's been working for two years now...

[Happy Fun Ball]

They were blamed for the 1995 government shutdown, which made them lose their nerve for cutting spending. I just don't want that to happen again.

[ConservativeMobster]

But the shut down and Newt's contract for America began the road to recovery. Took a little longer for the nerves to twitch.

It's a long way past for the Carter years to make on impact on this generation.  The generation that's had nothing but smooth sailing and government cheese.

[Happy Fun Ball]

But the shut down and Newt's contract for America began the road to recovery. Took a little longer for the nerves to twitch.

It's a long way past for the Carter years to make on impact on this generation.  The generation that's had nothing but smooth sailing and government cheese.

Yes, the Contract With America did help, and I hope the Republicans can come up with something similar (but it will have to be more drastic given the circumstances).

[ConservativeJoeG]

FreeFasaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaallllllllllllllllllllllllllll.

[bkg]

Yes, the Contract With America did help, and I hope the Republicans can come up with something similar (but it will have to be more drastic given the circumstances).

Contract w/ America was crap... we already had one - it's called the Constitution....