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Job Market loses 125,000 jobs while initial claims for Unemployment benefits rise in June

The U.S. Bureau of Labor Statistics announced today that the economy lost 125,000 jobs in June.  In addition, there were 13,000 more initial claims for unemployment benefits last month bringing the total number of jobless claims to 472,000 for the week of June 26, 2010.  The June national unemployment rate was 9.5%.

In June, the private sector created 83,000 jobs.  However, the BLS report notes that the United States has lost over 7 million jobs since 2007.  The United States continues to face an enormous economic jobs crisis. 

As reported in my June 15 article, economic expert Dr. Larry Mischel told a U.S. House subcommittee that the job market is 7.4 million jobs below where we were at the start of the recession. Dr. Mischel testified that "over the two years and five months since the recession began in December 2007, we needed to have added around 3 million jobs simply to keep up with population growth . . . as of today no policy has been enacted that would allow us to hope for that rate of job creation in the coming years."

Where are the jobs?  Quite frankly, they are nowhere to be found.  The unemployed and jobless need jobs.  In response to questions about his economic stimulus package, Pres. Obama tried to comfort a crowd in Racine, Wisconsin, by stating things could be worse, we could be seeing an unemployment rate of 12% or higher. 

Pres. Obama must have reviewed only the national unemployment figures. As we know, the unemployment rates for many states, including Michigan and Nevada have been at 14% in recent months.  The unemployment rates in California and Rhode Island have been at 12% and higher. 

Pres. Obama's statement begs the question; Can our elected officials create appropriate measures to solve our unemployment situation if they do not understand the scope and depth of the problem?

Stay Tuned:  Where are the Jobs series continues to look at the politics of job creation.

Press the subscribe button above to stay up to date on unemployment, jobs and the economy. Find me on twitter @IndyUEexaminer. Also, send your thoughts, ideas, comments to Ellen.Corcella@yahoo.com.

Thank you for following your Indianapolis Unemployment Examiner. Let's keep moving forward together.

Comments

  • Haz 4 years ago

    Great article, Ellen!

  • Joye 4 years ago

    I like what one person mentioned on another website. Find out which senators and representatives voted against extending the unemployment benefits. Start asking them for jobs!!

  • Wendi S 4 years ago

    One of the Senators that voted against it was Dan Burton (R) from Indianapolis. I think we ALL should remember this when it comes time for re-election!!!!! Enough already. We have to let them know that if they are not paying attention to the problems we are having as a state instead of making political hogwash, then..we say NEEXXXTT.

  • Wendi S 4 years ago

    Two of the other Indiana rep. that voted "Nay" for this bill were Joe Donnelly and Steve Buyer. This is where we start in November everyone....start writing down names and register to vote!!

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