Nonfarm payroll employment was essentially unchanged in June (+18,000), and the unemployment rate was little changed at 9.2 percent, the U.S. Bureau of Labor Statistics reported today. Employment in most major private-sector industries changed little over the month. Government employment continued to trend down.A friend of mine, who is a "micro" businessman, says increasing Federal Regulations is one thing standing in the way of the recovery.
Household Survey Data
The number of unemployed persons (14.1 million) and the unemployment rate (9.2 percent) were essentially unchanged over the month. Since March, the number of unemployed persons has increased by 545,000, and the unemployment rate has risen by 0.4 percentage point. The labor force, at 153.4 million, changed little over the month.
Among the major worker groups, the unemployment rates for adult men (9.1 percent), adult women (8.0 percent), teenagers (24.5 percent), whites (8.1 percent), blacks (16.2 percent), and Hispanics (11.6 percent) showed little or no change in June. The jobless rate for Asians was 6.8 percent, not seasonally adjusted.
Establishment Survey Data
Total nonfarm payroll employment was essentially unchanged in June (+18,000). Following gains averaging 215,000 per month from February through April, employment has been essentially flat for the past 2 months. Employment in most major private-sector industries changed little in June, while government employment continued to trend down.
Health care employment continued to trend up in June (+14,000), with the largest gain in ambulatory health care services. Over the prior 12 months, health care had added an average of 24,000 jobs per month.
In June, employment in mining rose by 8,000, with most of the gain occurring in support activities for mining. Employment in mining has increased by 128,000 since a recent low in October 2009.
Employment in leisure and hospitality edged up (+34,000) in June and has grown by 279,000 since a recent low in January 2010.
Employment in government continued to trend down over the month (-39,000). Federal employment declined by 14,000 in June. Employment in both state government and local government continued to trend down over the month and has been falling since the second half of 2008.
Manufacturing employment changed little in June. Following gains totaling 164,000 between November 2010 and April 2011, employment in this industry has been flat for the past 2 months. In June, job gains in fabricated metal products (+8,000) were partially offset by a loss in wood products (-5,000).
Construction employment was essentially unchanged in June. After having fallen sharply during the 2007-09 period, employment in construction has shown little movement on net since early 2010.
We can expect Stats for July to be released on Friday, 5 August 2011, at 0830 (EDT).
Regards — Cliff
Big Gubmint, eh?
ReplyDeleteEmployment in government continued to trend down over the month (-39,000). Federal employment declined by 14,000 in June. Employment in both state government and local government continued to trend down over the month and has been falling since the second half of 2008.
Your take away from all this, or at least the part you bothered to mention, is that regulations stand in the way?
Damn those child labors laws. DAMN THEM TO HELL!
Jack
ReplyDeleteNo, but I do think that the OSHA move to capture work done on private dwellings and to apply industrial level fines is driving some roofing contractors and the like to find other ways to occupy their time. By industrial strength I mean in the thousands of dollars. I am told, and I hope to remember to confirm this tomorrow, that there was a fine levied on the folks redoing the roof of the Immaculate and it came to $50K. If that were applied to someone replacing slate on my roof it would be an expensive job. Again, based upon the word of someone else (someone you know), 45 folks died last year falling off their roof. That is a lot of folks, but far less than the 30,000+ folks who died in auto accidents or the 250 children under five who drown in backyard pools annually.
I am NOT in favor of pulling child labor laws, although I do think that a special "minimum wage" for teenagers would be in order, to stimulate their employment.
That said, somewhere on the desk is a book that reexamines Lochner v New York. I am hoping to get to it soon.
Regards — Cliff
Some regulations do drive away businesses. Usually they are the fly by night, gyspsy, rip off artists.
ReplyDeleteBy raising the bar, the quality goes up. Yes, admittedly, more often than not, so does the price. But, that is a good thing for the next owner of the home.
I can't help but care little while the scam artists cry.