Jobless Rate Improves in June
The U.S. economy added 80,000 jobs in June, an improvement from May’s 69,000, but well below economists’ projections. However, the number of unemployed persons (12.7 million) was essentially unchanged and the unemployment rate held at 8.2%, reported the Labor Department Friday.
President Barack Obama said on Friday that job creation was going in the right direction but not enough to be satisfied with the pace of hiring, reported Reuters.
“We’ve got to grow the economy even faster and we’ve got to put more people back to work,” Obama told a campaign rally in the election battleground state of Ohio after the government report showed numbers lower than expected.
U.S. employment growth averaged 75,000 per month, compared with an average monthly gain of 226,000 for the first quarter of the year. Slower job growth in the second quarter took place in most major industries.
Employment in manufacturing continued to edge up in June, adding 11,000 jobs.