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Unemployment Drops to 6.1%

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Today US Department of Labor, Bureau or Labor Statistics (BLS) released the Employment Situation Summary for unemployment data collected during June 2014. Each month the BLS reports on the Employment Situation by surveying households across the United States. The June 2014 Employment Situation Summary posted an unemployment rate of 6.1% which was a drop of .2 percentage points from May.

With national unemployment rate now at 6.1% there remain 9.5 million jobless Americans and of that number, the Employment Situation Summary reports there are 3.1 million who have been jobless for 27 weeks or more and are deemed long term unemployed. The long term unemployed make up 32.8% of the total national unemployment.

Not counted in the June's national unemployment rate are 7.5 million involuntary part time workers. This group of involuntary part time workers cannot find full time work or have had their hours reduced to part time. The involuntary part time workers increased by 275,000 during June.

Another category not counted in the national unemployment rate are the 2 million persons who are considered marginally attached to the labor force. The marginally attached to the workforce decreased by 100,000 from the previous month since they have given up looking for a job but are no longer counted as unemployed because they have not searched for work in the last four weeks. Among the marginally attached workers there are 676,000 discouraged workers who has simply given up because they do not believe there is a job out there for them.

Of those jobs created Professional Services and health care added the most jobs at 67,000 in June. Followed by Retail trade adding 40,000 jobs with food services and drinking places adding 33,000 jobs. Also during June the average hourly earnings have for private non supervisory employees increased by 6 cents.

To view the full report go to Employment Situation Summary – June 2014. The next national BLS Employment Situation report will be released by the Department of Labor on August 1, 2014 and will evaluate employment data collected during July 2014.

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