June Jobs Report Is Weak and Unemployment Unchanged

The Labor Department has reported that only 80,000 jobs were added in June and the unemployment rate remains at 8.2%. According to an article on CNN.com, economists had hoped to see 95,000 jobs added.

Although jobs started out strong in the first few months of this year, a slowdown in the spring has many wondering whether the recovery is taking a turn for the worse. According to reports, the economy needs to add at least 125,000 jobs each month to keep up with population growth. Pennsylvania’s unemployment rate is 7.4%, making it 29 in the nation.

The industries adding jobs included manufacturing, which hired 14,000 workers; professional and business services, which added 47,000 jobs, and food services, which added 15,100 jobs. Those cutting jobs included retailers, which slashed 5,400 jobs and the government, which cut 4,000 jobs.

Of the 8.8 million jobs lost in the financial crisis, only about 3.8 million have been added back.