News / Economy

US Unemployment Holds Steady at 6.3%

US Employers Add 217,000 Jobs; Unemployment Steady at 6.3%i
X
Mil Arcega
June 07, 2014 1:23 AM
U.S. employers added another 217,000 jobs in May. That’s the fourth straight month of job gains above 200,000. The job gains in May could mean the economy now has recovered all the jobs lost during the recession, but as VOA's Mil Arcega reports, the unemployment rate was unchanged at 6.3 percent because more Americans went looking for work.
US Employers Add 217,000 Jobs; Unemployment Steady at 6.3%
US Employers Add 217,000 Jobs; Unemployment Steady at 6.3%

U.S. employers added another 217,000 jobs in May. That’s the fourth straight month of job gains above 200,000. The job gains in May could mean the economy now has recovered all the jobs lost during the recession, but the unemployment rate was unchanged at 6.3 percent because more Americans went looking for work.

After a difficult winter, the US job market is showing signs of life. The Labor Department says job gains in May were broad-based - rising in healthcare, the leisure, hospitality and manufacturing sectors.  

And despite worries that U.S. stock prices may be due for a major correction, investment strategist Kate Warne said slow and steady wins the day.

"In addition, we think sentiment is actually improving a little. The skepticism that everybody feels is actually positive because it means nobody's gotten too excited, too euphoric, at a time like this," said Warne.
 
Unemployment rate as of May, 2014Unemployment rate as of May, 2014
x
Unemployment rate as of May, 2014
Unemployment rate as of May, 2014
Despite the improving jobs picture, the unemployment rate held steady as unemployed Americans resumed their job search. Economists say that’s a sign of confidence in the economy. One worry, though, is that average wages have remained mostly flat.
 
Mark Hamrick at Bankrate.com said that hurts consumer confidence.

“One thing that would really help them to see a much better mood is if their incomes were to grow, if they have more money in their pockets and they don’t have to spend it all on gasoline or utilities to heat their homes as they did during the winter time. I think that would really help consumer confidence,” said Hamrick.

Another concern is that job growth remains uneven. A new report by the National Council of La Raza says the unemployment rate for Latinos is still higher than for the general population. Not only that, policy analyst Alicia Criado said the majority of gains for Latinos have been in lower-paying jobs.

“Or jobs that don’t keep workers out of poverty. And that’s definitely the case for millions of Latino workers who are increasingly filling jobs in the low-wage sector,” said Criado.

Although the economy now has regained the number of jobs lost since the downturn, job growth has not kept up with the U.S.  population, which has grown nearly seven percent since the end of the Great Recession.

You May Like

How to Safeguard Your Mobile Privacy

As the digital world becomes more mobile, so too do concerns about eroding privacy and increased hacking More

'Desert Dancer' Chronicles Iranian Underground Dance Troupe

Film by Richard Raymond is based on true story of Afshin Ghaffarian and his friends More

Obesity Poses Complex Problem

Professor warns of obesity’s worldwide health impact More

This forum has been closed.
Comment Sorting
Comments
     
by: Dr. Cateret from: USA LIES
June 07, 2014 11:18 AM
Last April I saw a report that 83% of May’s college graduates did not have a job. I remarked that in my day most of us had 2 or 3 job or graduate school offers before we graduated. The latest payroll jobs report issued on June 6 proves that the April report was true.

My opinion, schooled in part by John Williams’ very precise reports on Shadowstats.com, is that on average about half of the new jobs each month are phantom jobs created by the birth-death model and inappropriate seasonal adjustments. So, I figured that the 217,000 jobs claimed for May are more like 108,000. Then I read John Williams’ report on the May jobs number: “Monthly payroll gains overstated by 200,000 plus jobs”

In other words, there were zero new jobs in May.

Just as the US government can turn an inconsequential Iraq, Afghanistan, Libya, and Syria into dangerous threats against “the world’s only superpower,” the US government can turn zero jobs growth into 217,000 jobs. It is easy when you have a prostitute media and a gullible public, both of which Washington most certainly has.

But let’s take the government data at face value.

First, consider the news report that finally as of May 2014 as many Americans had jobs
as had jobs in January 2008. That might seem like good news until you take into account that since January 2008 the US has experienced 6.5 years of population growth. Economists seem to have settled on population growth adding 129,000 people to the work force each month. That comes to 10,000,000 people. Where are their jobs? The “jobs recovery” doesn’t provide for the 10 millions who have come of working age since January 2008.

We can conclude from this that the official 6.3 percent unemployment rate is nonsense. The unemployment rate is in the neighborhood of 23 percent as John Williams has established.

Just as the US government claims, falsely, that Russia invaded Ukraine and annexed Crimea, that Saddam Hussein had weapons of mass destruction, that Assad used chemical weapons on Syrians, and so forth and so on, the 6.3 percent unemployment rate is just another government lie.

Second, consider where the claimed 217,000 May jobs are. Hardly any of these claimed jobs are jobs in which university graduates begin their careers. The jobs are in wholesale trade, retail clerks, transportation and warehousing, employment services and temporary help, waitresses and bartenders, and health care and social assistance. In the later category, ambulatory health care services and social assistance account for the majority of jobs.

If college graduates have jobs, they are not the jobs for which they studied. On March 31, CNN Money reported that 260,000 college graduates were employed at or below the federal minimum wage of $7.25 per hour.


How is the second quarter going to come roaring back, as the financial media assures us it will, when the jobs report is so discouraging? How much longer will Washington be able to hide the fact that the US economy is sinking?

If you read all the B.S. that the American media and educational establishment puts out, “education is the answer.” Apparently not. Education is the way to become deeply in debt and work for $7.25 per hour, if you are lucky to escape unemployment.

America is a Great Big Lie. There is no truth in what we are told. The entire country, along with that part of the world under Washington’s thumb, is run for about six private interest groups. The rest of us are being fleeced.

by: Donald Fraser Miles from: Elliot Lake, Canada
June 07, 2014 7:06 AM
Needed in America now is new technology ideas. Innovation in technology which reduces costs and improves productivity in everyday life and in manufacturing is what is needed. As the revolution in oil and gas extraction through shale fracking has regenerated and emancipated the American economy and politics, so new technology ideas in key areas such as battery technology and carbon reduction will lead to a stronger economy and healthier society

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Rolling Thunder Run Reveals Changed Attitudes Towards Vietnam Wari
X
Katherine Gypson
May 25, 2015 1:32 AM
For many US war veterans, the Memorial Day holiday is an opportunity to look back at a divisive conflict in the nation’s history and to remember those who did not make it home.
Video

Video Rolling Thunder Run Reveals Changed Attitudes Towards Vietnam War

For many US war veterans, the Memorial Day holiday is an opportunity to look back at a divisive conflict in the nation’s history and to remember those who did not make it home.
Video

Video Female American Soldiers: Healing Through Filmmaking

According to the United States Defense Department, there are more than 200-thousand women serving in the U.S. Armed Forces.  Like their male counterparts, females have experiences that can be very traumatic.  VOA's Bernard Shusman tells us about a program that is helping some American women in the military heal through filmmaking.
Video

Video Iowa Family's Sacrifice Shaped US Military Service for Generations

Few places in America have experienced war like Waterloo. This small town in the Midwest state of Iowa became famous during World War II not for what it accomplished, but what it lost. As VOA’s Kane Farabaugh reports, the legacy of one family’s sacrifice is still a reminder today of the real cost of war for all families on the homefront.
Video

Video On Film: How Dance Defies Iran's Political Oppression

'Desert Dancer' by filmmaker Richard Raymond is based on the true story of a group of young Iranians, who form an underground dance troupe in the Islamic Republic of Iran. This is the latest in a genre of films that focus on dance as a form of freedom of expression against political oppression and social injustice. VOA’s Penelope Poulou has more.
Video

Video Turkey's Ruling Party Trying to Lure Voters in Opposition Stronghold

Turkey’s AK (Justice and Development) Party is seeking a fourth successive general election victory, with the goal of securing two-thirds of the seats in Parliament to rewrite the constitution and change the country's parliamentary system into a presidential one. To achieve that, the party will need to win seats in opposition strongholds like the western city of Izmir. Dorian Jones reports.
Video

Video Millions Flock to Ethiopia Polls

Millions of Ethiopians cast their votes Sunday in the first national election since the 2012 death of longtime leader Meles Zenawi. Mr. Meles' party, the Ethiopian People's Revolutionary Democratic Front, is almost certain of victory again. VOA's Anita Powell reports from Addis Ababa.
Video

Video Scientists Testing Space Propulsion by Light

Can the sun - the heart of our solar system - power a spacecraft to the edge of our solar system? The answer may come from a just-launched small satellite designed to test the efficiency of solar sail propulsion. Once deployed, its large sail will catch the so-called solar wind and slowly reach what scientists hope to be substantial speed. VOA’s George Putic reports.
Video

Video FIFA Trains Somali Referees

As stability returns to the once lawless nation of Somalia, the world football governing body, FIFA, is helping to rebuild the country’s sport sector by training referees as well as its young footballers. Abdulaziz Billow has more from Mogadishu.
Video

Video With US Child Obesity Rates on the Rise, Program Promotes Health Eating

In its fifth year, FoodCorps puts more than 180 young Americans into 500 schools across the United States, where they focus on teaching students about nutrition, engaging them with hands-on activities, and improving their access to healthy foods whether in the cafeteria or the greater community. Aru Pande has more.
Video

Video Virginia Neighborhood Draws People to Nostalgic Main Street

In the U.S., people used to grow up in small towns with a main street lined by family-owned shops and restaurants. Today, however, many main streets are worn down and empty because shoppers have been lured away by shopping malls. But in the Del Ray neighborhood of Alexandria, Virginia, main street is thriving. VOA’s Deborah Block reports it has a nostalgic feel with its small restaurants and unique stores.

VOA Blogs

World Currencies

EUR
USD
0.9109
JPY
USD
121.50
GBP
USD
0.6467
CAD
USD
1.2293
INR
USD
63.559

Rates may not be current.