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

    Clinton, Trump and the 'Woman’s Card'

    Ask supporters of Democratic front-runner in US presidential campaign, and they’ll tell you Republican presidential candidate is playing a dangerous hand

    Russian Censorship Group Seeks Chinese Help to Better Control Internet

    At recent Safe Internet League forum in Moscow, speakers from both nations underscored desire for authorities to further limit and control information online

    Video Makeshift Pakistani School Helps Slum Kids

    Free classes in Islamabad park serve a few of the country’s nearly 25 million out-of-school youths; NGO cites ‘education crisis’

    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.
    Turkish Kurd Islamist Rally Stokes Tensionsi
    X
    April 29, 2016 12:28 AM
    In a sign of the rising power of Islamists in Turkey, more than 100,000 people recently gathered in Diyarbakir, the main city in Turkey’s predominantly Kurdish southeast, to mark the birthday of the Prophet Muhammad. The gathering highlighted tensions with the pro-secular Kurdish nationalist movement. Dorian Jones reports from Diyarbakir.
    Video

    Video Turkish Kurd Islamist Rally Stokes Tensions

    In a sign of the rising power of Islamists in Turkey, more than 100,000 people recently gathered in Diyarbakir, the main city in Turkey’s predominantly Kurdish southeast, to mark the birthday of the Prophet Muhammad. The gathering highlighted tensions with the pro-secular Kurdish nationalist movement. Dorian Jones reports from Diyarbakir.
    Video

    Video Pakistani School Helps Slum Kids

    Master Mohammad Ayub runs a makeshift school in a public park in Islamabad. Thousands of poor children have benefited from his services over the years, but, as VOA's Ayesha Tanzeem reports, roughly 25 million school-age youths don't get an education in Pakistan.
    Video

    Video Florida’s Weeki Wachee ‘Mermaids’ Make a Splash

    Since 1947, ‘mermaids’ have fascinated tourists at central Florida’s Weeki Wachee Springs State Park with their fluid movements and synchronized ballet. Performing underwater has its challenges, including cold temperatures and a steady current, as VOA’s Lin Yang and Joseph Mok report.
    Video

    Video Somali, African Union Forces Face Resurgent Al-Shabab

    The Islamic State terror group claimed its first attack in Somalia earlier this week, though the claim has not been verified by forces on the ground. Meanwhile, al-Shabab militants have stepped up their attacks as Somalia prepares for elections later this year. Henry Ridgwell reports there are growing frustrations among Somalia’s Western backers over the country’s slow progress in forming its own armed forces to establish security after 25 years of chaos.
    Video

    Video Bangladesh Targeted Killings Spark Wave of Fear

    People in Bangladesh’s capital are expressing deep concern over the brutal attacks that have killed secular blogger, and most recently a gay rights activist and an employee of the U.S. embassy. Xulhaz Mannan, an embassy protocol officer and the editor of the country’s only gay and transgender magazine Roopban; and his friend Mehboob Rabbi Tanoy, a gay rights activist, were hacked to death by five attackers in Mannan’s Dhaka home earlier this month.
    Video

    Video Documentary Tells Tale of Chernobyl Returnees

    Ukraine this week is marking the 30th anniversary of the world's worst nuclear accident, at the Chernobyl nuclear power plant. Soviet officials at first said little about the accident, but later evacuated a 2,600-square-kilometer "exclusion zone." Some people, though, came back. American directors Holly Morris and Anne Bogart created a documentary about this faithful and brave community. VOA's Tetiana Kharchenko reports from New York on "The Babushkas of Chernobyl." Carol Pearson narrates.
    Video

    Video Nigerians Feel Bite of Buhari Economic Policy

    Despite the global drop in the price of oil, Nigerian President Muhammadu Buhari has refused to allow the country's currency to devalue, leading to a shortage of foreign exchange. Chris Stein reports from Lagos businessmen and consumers are feeling the impact as the country deals with a severe fuel shortage.
    Video

    Video  Return to the Wild

    There’s a growing trend in the United States to let old or underused golf courses revert back to nature. But as Erika Celeste reports from one parcel in Grafton, Ohio, converting 39 hectares of land back to green space is a lot more complicated than just not mowing the fairway.
    Video

    Video West Urges Unity in Libya as Migrant Numbers Soar

    The Italian government says a NATO-led mission aimed at stemming the flow of migrants from Libya to Europe could be up and running by July. There are concerns that the number of migrants could soar as the route through Greece and the Balkans remains blocked. Western powers say the political chaos in Libya is being exploited by people smugglers — and they are pressuring rival groups to come together under the new unity government. VOA's Henry Ridgwell reports.
    Video

    Video Russia’s TV Rain Swims Against Tide in Sea of Kremlin Propaganda

    Russia’s media freedoms have been gradually eroded under President Vladimir Putin as his government has increased state ownership, influence, and restrictions on critical reporting. Television, where most Russians get their news, has been the main target and is now almost completely state controlled. But in the Russian capital, TV Rain stands out as an island in a sea of Kremlin propaganda.

    Special Report

    Adrift The Invisible African Diaspora

    World Currencies

    EUR
    USD
    0.8769
    JPY
    USD
    107.28
    GBP
    USD
    0.6842
    CAD
    USD
    1.2528
    INR
    USD
    66.384

    Rates may not be current.