Friday, August 2, 2013

Unemployment Rate Drops to 7.4 Percent, But Number of Discouraged Workers Grows

Posted By on Fri, Aug 2, 2013 at 10:30 AM

The U.S. jobless rate dropped two-tenths of a point in July—down to 7.4 percent—the lowest rate since December 2008.

The U.S. Labor Department announced this morning that the nation's economy added 162,000 non-farm jobs, down from 188,000 in June. And even though more people have entered the labor market, the number of adults who have a job also remains far lower than before the recession.

Retailers showed the strongest growth, adding 47,000 jobs in June. Leisure and hospitality, wholesale trade and financial sectors also added jobs. But manufacturing employment was flat and has shown little growth during the past 12 months.

The number of temporary workers rose in June, but less than in previous months, with employers adding about 8,000 temp jobs. Employers traditionally hire short-term workers before bringing on more full-time staffers.

Meanwhile, the number of discouraged workers rose to 988,000, up 136,000 from the same period last year. Discouraged workers are those not currently looking for work because they believe there are no jobs available for them.

Tags: ,

Pin It
Favorite

Comments

Showing 1-1 of 1

 

Comments are closed.

Join the conversation at facebook.com/boiseweekly
or send letters to editor@boiseweekly.com.

© 2018 Boise Weekly

Website powered by Foundation