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Hello, July. Hello, 9.5% National Unemployment
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Unemployment increased from May to June, but only by one-tenth of a point, or 467,000 lost jobs, a 26-year high. Here's the breakdown: Professional and business services slashed 118,000 jobs, more than double the 48,000 cut in May. Manufacturers cut 136,000, down from 156,000. Construction companies got rid of 79,000 jobs, up from 48,000 the previous month. Retailers eliminated 21,000, up from 17,600. Financial activities cut 27,000, following 30,000 in May. The government cut 52,000 jobs, up from 10,000 the previous month. Leisure and hospitality cut 18,000 jobs, erasing a gain of the same size in May. One of the few industries adding jobs: education and health services, which added 34,000 positions last month and 47,000 in May." Statewide, unemployment numbers have not been calcuated--in May, it was 11.5%.
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