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DrTorch Offline
Proved mach and GTS to be liars
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Post: #1
 
You promised you'd keep us posted on news like this:

<a href='http://www.inc.com/criticalnews/articles/200507/jobs.html' target='_blank'>http://www.inc.com/criticalnews/articles/2...00507/jobs.html</a>

July 8, 2005--The unemployment rate fell to its lowest level since September 2001, as the economy added 146,000 jobs, according to a report released Friday.

The Department of Labor's household survey showed that the unemployment rate fell 0.1% to 5.0% in June while the workforce increased by only 1,000. Job growth, as reported in the department's payroll survey, was significantly improved from May, when only 104,000 jobs were created, though far off the 292,000 jobs created in April. The rate of growth also fell below the 190,000 new jobs expected by analysts.

Much of the month's growth was fueled by the business services industry, which added 56,000 jobs, along with health care, which added 25,000. The news was less encouraging for manufacturing and automotive industries, which lost 24,000 and 18,000 jobs respectively.

The average workweek -- seen by many as an indicator for future job growth -- was flat in June, remaining at 33.7 hours, while the manufacturing workweek and average overtime hours were also unchanged. Average wages for workers went up by 3 cents an hour, while weekly earnings rose by 0.2%.
07-11-2005 08:09 AM
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JTiger Offline
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Post: #2
 
Are college and high school students getting summer jobs considered in these numbers? The numbers always seem to go up this time of year and christmas for seasonal hiring.
07-11-2005 09:05 AM
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DrTorch Offline
Proved mach and GTS to be liars
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Posts: 35,887
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Post: #3
 
JTiger Wrote:Are college and high school students getting summer jobs considered in these numbers? The numbers always seem to go up this time of year and christmas for seasonal hiring.
I don't think so. I believe it's due to a rise in seasonal jobs like construction.

Anyway the unemployment rate went down, as well as the employment number increasing. So it doesn't look like the numbers are rigged.
07-11-2005 09:25 AM
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aerojad Offline
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Post: #4
 
Funny story about unemployment data. If you can't find employment and you fall off the rolls, you're not counted anymore. So the rate goes down if you find a job or not.


/just sayin'
07-12-2005 03:57 PM
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