News / USA

US Job Gains Again Surpass Outlook in June

US Job Gains Again Surpass Outlook in Junei
X
July 06, 2013 12:25 AM
The U.S. economy exceeded expectations again, adding 195,000 jobs in June. The Bureau of Labor Statistics said companies also hired more workers in April and May than originally reported - meaning the economy has now added more than 200,000 jobs per month since the start of the year. But despite the steady job growth, the nation’s unemployment rate remains high. Mil Arcega has more for VOA.
US Job Gains Again Surpass Outlook in June
The U.S. economy exceeded expectations again, adding 195,000 jobs in June. The Bureau of Labor Statistics said companies also hired more workers in April and May than originally reported - meaning the economy has now added more than 200,000 jobs per month since the start of the year. But despite the steady job growth, the nation’s unemployment rate remains high.

The retail and hospitality industry saw the biggest job gains last month, followed by health care and professional services. But while the pace of job growth has been steady - economic blogger Chris Martenson says many of the new jobs involve part time work.
 
Martenson runs Peakprosperity.com. He spoke to VOA via Skype.

“Honestly, I want to see the part-time numbers falling, I want to see hours per week climbing, I want to see average hourly, weekly earnings climbing much faster than they currently are for me to say - yeah, this is good,” he said.

Despite better than expected job numbers, the nation’s unemployment rate remained unchanged at 7.6 percent as more Americans resumed their job search. Martenson said stubbornly high unemployment means the U.S. Federal Reserve’s policy of Quantitative Easing is likely to stay - at least for now.

“The unemployment rate from the household data - that didn’t change. So guess what? QE [efforts to stimulate the economy] gets to continue, because the Fed has linked cessation of QE to change in this [unemployment] number," said Martenson.

The Federal Reserve has been buying $85 billion in Treasury bonds and mortgage-backed securities every month in an effort to keep long term interest rates low. Fed Chairman Ben Bernanke says the central bank could start reducing its purchases as the jobless rate declines.
 
Some say that could happen sooner rather than later.

On Skype, finance expert James Blake said that job growth is likely to pick up in the second half of the year.

“I think there’s a lot of positive signs in the economy going forward. Will it become robust? Not in the near term, but I think some steady moderate growth we will see,” said Blake.

Many businesses remain cautious. The report shows further job losses in manufacturing and government. And despite a steadily improving job market, the Labor Department says 11.8 million Americans are still unemployed - virtually unchanged since February.

You May Like

For Lebanon-based Refugees, Desperation Fuels Perilous Passage

In a war that has caused an estimated three million people to flee Syria, efforts to make perilous sea journey in search of asylum expected to increase More

South African Brewer Tackles Climate Change

Mega-brewer SAB Miller sent delegates to climate summit in Peru, says it is one of many private companies taking their own steps to fight climate change More

Indonesia Reports Increase in Citizens Joining Islamic State

Officials say more than 350 of its citizens are now in Syria or Iraq to fight with Islamic State - 50 more than last month More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Refugees Living in Kenya Long for Peace in the Home Countriesi
X
December 16, 2014 2:14 PM
Kenya is host to numerous refugees seeking safe haven from conflict. Immigrants from Somalia face challenges in their new lives in Kenya. Ahead of International Migrants Day (December 18) Lenny Ruvaga has more for VOA News from the Kenyan capital.
Video

Video Refugees Living in Kenya Long for Peace in the Home Countries

Kenya is host to numerous refugees seeking safe haven from conflict. Immigrants from Somalia face challenges in their new lives in Kenya. Ahead of International Migrants Day (December 18) Lenny Ruvaga has more for VOA News from the Kenyan capital.
Video

Video Turkey's Authoritarianism Dismays Western Allies

The Turkish government has been defiant in the face of criticism at home and abroad for its raids targeting opposition media. The European Union on Monday expressed dismay after President Recep Tayyip Erdogan lashed out at Brussels for criticizing his government's action. Turkey's bid to be considered for EU membership has been on hold while critics accuse the NATO ally of increasingly authoritarian rule. Zlatica Hoke reports.
Video

Video US-China Year in Review: Hong Kong to Climate Change

The United States is pushing for a code of conduct to resolve territorial disputes in the South China Sea as it works to improve commercial ties with Beijing. VOA State Department correspondent Scott Stearns reports on a year of U.S. policy toward China from Hong Kong to climate change.
Video

Video Japanese Leader’s Election Win Raises Potential for Conflict with Neighbors

Japan’s Prime Minister Shinzo Abe and his allies easily won a two-thirds majority in parliament Sunday, even though the country has slipped into recession under his conservative policies. VOA’s Brian Padden reports from Seoul, that the prime minister’s victory will empower him to continue economic reforms but also pursue a nationalist agenda that will likely increase tensions with Japan’s neighbors.
Video

Video Nuba Mountain Families Hide in Caves to Escape Aerial Bombings

Despite ongoing peace talks between Sudan's government and the rebel Sudan People’s Liberation Movement-North, or SPLM-N, daily aerial attacks continue in South Kordofan province’s Nuba Mountains. Adam Bailes was there and reports for VOA that government forces are targeting civilian areas, rather than military positions, with their daily bombardments.
Video

Video Indonesian Province to Expand Sharia Law

Indonesia has the world’s largest Muslim population and a legal system based on Dutch civil law and Indonesian government regulations. But in a 2001 compromise with separatists, Aceh province in Sumatra island’s north was allowed to implement Sharia law. Since then, religious justice has become increasingly strict. VOA correspondent Steve Herman reports from Banda Aceh.
Video

Video Some Russian Businesses Thrive in Poor Economy

Capital flight, the fall in oil prices and Western sanctions are pushing Russia's staggering economy into recession. But not companies are suffering. The ruble’s drop in value has benefited exporters as well as businesses targeting increasingly frugal customers. VOA's Daniel Schearf reports from Moscow.

All About America

AppleAndroid