Thursday, July 3, 2014

Nation's Jobless Rate Dips to 6.1 Percent, Best Since 2008

Posted By on Thu, Jul 3, 2014 at 9:49 AM

After a very difficult June, including two major Supreme Court rulings where the White House took a beating, President Barack Obama began his long holiday weekend early today with some very good news: The nation added 280,000 jobs in June.

The U.S. Labor Department reported this morning that the nation's unemployment rate fell to 6.1 percent in June, its lowest level since September 2008. The economy has added an average of 231,000 jobs per month in 2014, the highest six-month average since a pre-recession 2006.

Another important economic indicator, which includes those people who want a job but have given up searching and those who have to work part-time because they can't secure full-time jobs, fell to 12.1 percent in June, the lowest level since October 2006.

June's gains were spread evenly across a number of sectors: factories added 16,000 employees; retailers hired 40,200 workers; financial and insurance firms increased payrolls by 17,000.

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