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National Employment Monthly Update

National Employment Monthly Update

7/3/2014

Unemployment Drops to 6.1 Percent in June 2014

The unemployment rate for June declined to 6.1 percent, according to the Bureau of Labor Statistics. Unemployment hasn’t been that low since August 2008.

Approximately 288,000 jobs were created during the month, above the three-month average of 272,000 jobs, and better than was expected.

The number of long-term unemployed declined to 3.1 million, a drop of 293,000. Long-term unemployed, those jobless for 27 weeks or more, accounted for 32.8 percent of the unemployed in June. Over the last year, long-term unemployment has declined by 1.2 million workers.

Most business sectors saw job growth for the month, including professional and business services, wholesale and retail trade, leisure and hospitality, health care, transportation and warehousing, financial services, and manufacturing.  Employment in mining, construction and government remained steady for the month.

Unemployment figures for July will be released on Friday, August 1.

U.S. Dept. of Labor, Bureau of Labor Statistics Press Release

 National Unemployment Rates,  2008 - 2014

   Jan.  Feb.  Mar.  April  May  June  July  Aug.  Sept.  Oct.  Nov.  Dec.
 2014   6.6   6.7   6.7   6.3   6.3   6.1            
 2013   7.9   7.7   7.5   7.5   7.5   7.5   7.3   7.2   7.2    7.2    7.0    6.7
 2012   8.3   8.3   8.2   8.1   8.2   8.2   8.2   8.1   7.8    7.9    7.8    7.8
 2011   9.0   8.9   8.8   9.0   9.1   9.2   9.1   9.1   9.1    9.0    8.6    8.5
 2010   9.7   9.7   9.7   9.9   9.7   9.5   9.5   9.6   9.6    9.6    9.8    9.4
 2009   7.6   8.1   8.5   8.9   9.4   9.5   9.4   9.7   9.8  10.2  10.0  10.0
 2008   4.9   4.8   5.1   5.0   5.5   5.6   5.8   6.2   6.2    6.6    6.8    7.2

 Source: Bureau of Labor Statistics

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