U.S. June Employment Report: 288,000 Jobs Added, Unemployment Rate Down to 6.1 Percent

The New Orleans Times-Picayune ^ | Thursday, July 3, 2014

[kristinn]

Hiring over the past five months has been the strongest since the late 1990s tech boom as the economy added 288,000 jobs in June and the unemployment rate fell to 6.1 percent from 6.3 percent.

The Labor Department says those gains follow additions of 217,000 jobs in May and 304,000 in April, figures that were both revised upward.

[G Larry]

We have 93,000,000 people no longer COUNTED as being in the workforce, in order to manipulate this “unemployment” figure.

[newnhdad]

whoever believes the phoney baloney jobs numbers please stand on your head..

[kiryandil]

Employment: +288k, YAWN
Karl Denninger
July 3, 2014
http://market-ticker.org/akcs-www?post=229154

The Bureau of Lies And Scams emitted it's usual monthly fiction today:

Total nonfarm payroll employment increased by 288,000 in June, and the unemployment rate declined to 6.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains were widespread, led by employment growth in professional and business services, retail trade, food services and drinking places, and health care. 

Uh huh.

Here's the amusing part -- adjusted for population on a 12 month basis the net change was..... 1,000.  Really.

In other words, take the 12 month change in employment and subtract the 12 month change in working-age population.  You get.... "1", and since these are thousands, that's 1,000 people.

We had a positive print here in March, but this tells the tale in terms of people; it's flat.

Let's look at the charts.

The gain rate looks good top-line.  The problem is that population-corrected it's flat:

There is one good piece of news in here -- the employment:population rate edged up.  A breakout it is not -- yet -- but the trend is in the right direction at the moment:

The workweek was unchanged, indicating little pressure there, and has remained at 34.5 for the last year.  Unfortunately a huge percentage of the added jobs were low-wage; +33,000 in food-service and drinking places alone.  The sad part of people cheering professional and business service gains is that a minority of them were in high-paying sectors -- only about 1/3rd of the adds sum between management, technical consulting, architectural and engineer or computer systems design and related services (e.g. programming.)  The rest were low-wage "business services" such as temp placements.

The one bright spot among manufacturing is that it was all in durable goods; non-durable manufacturing actually lost 1,000 jobs.  That's a positive, but as a percentage of the whole manufacturing was only 5.5% of the added employment.  That's terrible.

Also not-good was the increase in involuntary part-time employment ("economic reasons"); the total net-add was ridiculous, accounting for nearly the entire addition to employment at +275,000 this month alone.  OUCH.

Non-economic shift to part-time employment was +840,000, which was nearly triple the employment add.  What's far more-troubling is that this looks to be a step-function in the last month -- and it's unexplained.  Obamacare went into effect on the year turn for most employers; what explains 840,000 people shifting to part-time employment for other than economic reasons (in other words, they got forced back onto part-time hours or could only find a part-time job) in one month?

Finally, 26,000 additional government leeches were added to your tax bill -- ironically, the same as actual goods-producing jobs, canceling their positive economic impact.

Welcome to Amerika, comrade.

[snowrip]

Except that real wages are down 16% and US economic growth is -2.9% YTD... which means the “new jobs” being created are former mid- to high-level wage earners who have secured a new position at a much lower salary.

[kabar]

Interesting that the U-6 rate not seasonally adjusted increased to 12.4 from 11.7 in May.

U-6-- Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force

[skeeter]

Cool. The new jobs just about cover the number of illegals flooding across the border every month.

[FlingWingFlyer]

6.1 is the Obama regime’s Fun With Numbers number. 12.1 is the actual unemployment rate.

[MichaelCorleone]

“Except that real wages are down 16% and US economic growth is -2.9% YTD... which means the “new jobs” being created are former mid- to high-level wage earners who have secured a new position at a much lower salary.”

Yes, yes. But these people no longer have JOB LOCK and therefore they are a happier worker, according to obama. Money is only for the ruling class to enjoy.

So see? Everything’s okay!

[Wyatt's Torch]

Participation rate remained flat in June.

[Wyatt's Torch]

U6 is lowest since October 2008:

[nhwingut]

Also not-good was the increase in involuntary part-time employment ("economic reasons"); the total net-add was ridiculous, accounting for nearly the entire addition to employment at +275,000 this month alone. OUCH.

Does this mean that of the 288k jobs, 275k were part time? Excuse my ignorance of job statistical BS.

[rockinqsranch]

We’ll probably see that BS “unemployment” number decrease each month up to the November election. Too many LIV’s WILL believe it, because they don’t put any brainwork to anything other than their beer bellies, and what’s in their britches.

[MrB]

Wow, only 1% above the “full employment rate” of 5% we were experiencing in 2000!

The economy must be BOOMING!

I believe we also had a + (that’s a PLUS) 5% growth rate that year as well!

The growth rate today, with these unemployment numbers, should then be at least 4%! Great!
...

What? Negative 3% growth rate? What?

[rhubarbk]

The “Good News” ramp up for November has begun for the Lo-Info crowd.

[rhubarbk]

The “Good News” ramp up for November has begun for the Lo-Info crowd.

[rhubarbk]

Sorry for the double post!

[CodeToad]

Not to mention they count some people twice and even three times. If you have three part time jobs they count that as three people employed.

We also have millions more on “disability” that are not counted.

[CodeToad]

Nothing but communist propaganda as those are not hard numbers but numbers taken by a telephone polling. No manipulation there, huh, buddy?