Unemployment Data for June

JUNE CHANGE IN NONFARM PAYROLLS:  -467,000

JUNE UNEMPLOYMENT RATE:  9.5%

INITIAL JOBLESS CLAIMS: 614,000

CONTINUING CLAIMS: 6,702,000

U-6 UNEMPLOYMENT RATE FOR JUNE: 16.8%

THE EMPLOYMENT SITUATION: JUNE 2009

Nonfarm payroll employment continued to decline in June (-467,000),

and the unemployment rate was little changed at 9.5 percent, the Bureau

of Labor Statistics of the U.S. Department of Labor reported today.

Job losses were widespread across the major industry sectors, with

large declines occurring in manufacturing, professional and business

services, and construction.

Unemployment (Household Survey Data)

The number of unemployed persons (14.7 million) and the unemployment

rate (9.5 percent) were little changed in June. Since the start of the

recession in December 2007, the number of unemployed persons has increas-

ed by 7.2 million, and the unemployment rate has risen by 4.6 percentage

points.

In June, unemployment rates for the major worker groups–adult men

(10.0 percent), adult women (7.6 percent), teenagers (24.0 percent),

whites (8.7 percent), blacks (14.7 percent), and Hispanics (12.2 per-

cent)–showed little change. The unemployment rate for Asians was

8.2 percent, not seasonally adjusted.

Among the unemployed, the number of job losers and persons who com-

pleted temporary jobs (9.6 million) was little changed in June after

increasing by an average of 615,000 per month during the first 5 months

of this year.

The number of long-term unemployed (those jobless for 27 weeks or

more) increased by 433,000 over the month to 4.4 million. In June, 3

in 10 unemployed persons were jobless for 27 weeks or more.

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Comments

  1. me778fx says:

    The ILO unemployment rate in the UK came out worse than expected.
    Current: 7.6%
    Consensus: 7.4%
    Previous: 7.2%
    this made the sterling decline against the dollar, euro and yen.
    http://www.ac-markets.com/forex-news/forex-alerts-2009-7-15-10-45-CET-Unemployment-claims-in-the-UK.aspx
    Great post here, Chuck!

  2. hilary says:

    ACM has a very good web page, great information about news releases and forex education in general. No wonder they are the best broker out there!