Jobs Points for June:
- Only 80,000 (gain of only 11,000 over May) non-farm jobs added in June.
- The combined total of unemployment + involuntarily working part time + those who have given up (and no longer counted by BLS) for June was 23.4 million ( Up 200,000 from May). The breakdown is: a) 12.7 (unchanged) mil. Unemployed + b) 8.2 (+100,000) mil. Involuntarily working part-time + c) 2.5 (+100,000) mil. who are not even counted = 23.4 million workers who are either unemployed or underemployed or 16% of all workers! = 1 in 6 workers still unemployed or underemployed in the June BLS figures!
- BLS said that the National Unemployment rate stayed unchanged 8.2% in June.
- Illinois unemployment rate was 8.6% (-.1% from April) in May (Projected).
- The only gains were: a) Health Care continues to add jobs and rose by 13,000 in June and b) Wholesale trade employment added 9,000 (on top of the 16,000 added in May ).
- All other major industries showed little or not gain!
- How bad is it? With only 80,000 jobs created in June, it will take over 10 years to make up for the 7.9 million jobs killed off by the recession. Many of them are not coming back!