U.S. employers added 195,000 jobs in June, leaving the unemployment rate unchanged at 7.6 percent, the U.S. Bureau of Labor Statistics reported Friday.
Private sector jobs increased 202,000.
The U-6 unemployment rate, considered to be a broader measure of the actual unemployment situation in the U.S., jumped from 13.8 percent to 14.3 percent.
“The number of unemployed persons, at 11.8 million, and the unemployment rate, at 7.6 percent, were essentially unchanged in May,” the report notes.
Here’s unemployment broken up by group:
- Men: 7.0 Percent (previous: 7.2 percent)
- Adult women: 6.8 percent (previous: 6.5 percent)
- Teenagers: 24.0 percent (previous: 24.5 percent)
- Whites: 6.6 percent (previous: 6.7 percent)
- Blacks: 13.7 percent(previous: 13.5 percent)
- Hispanics: 9.1 percent (unchanged)
- Asians (not seasonally adjusted): 5.0 percent (previous: 4.3 percent)
The number of people on long-term unemployment (i.e. those who have been out of work for 27 weeks or more) was essentially unchanged at 4.3 million. This number accounts for approximately 36.7 percent of total unemployed.
The long-term unemployment rate has declined by 1.0 million.
“The civilian labor force participation rate, at 63.5 percent, and the employment-population ratio, at 58.7 percent, changed little in June. Over the year, the labor force participation rate is down by 0.3 percentage point,” the report reads.
The number of persons “marginally attached” to the labor force (2.6 million) changed very little from a year earlier.
“These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey,” the report adds.
Among the marginally attached, there were 1.0 million discouraged workers in June, an increase of 206,000 from a year earlier. Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.6 million persons marginally attached to the labor force in June had not searched for work for reasons such as school attendance or family responsibilities
Markets have re-opened and they’re all over the place:
Other Must-Read Stories:
Follow Becket Adams (@BecketAdams) on Twitter
Featured image Getty Images.