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U.S. Adds 223,000 Jobs In June; Unemployment Rate Falls To 5.3%

Discussion in 'News & Current Events' started by Revmitchell, Jul 8, 2015.

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  1. Revmitchell

    Revmitchell Well-Known Member
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    WASHINGTON (AP) — U.S. employers added a solid 223,000 jobs in June, and the unemployment rate fell to 5.3 percent, a seven-year low. The numbers reflect a job market moving close to full health and raise expectations that the Federal Reserve will start raising interest rates as early as September.

    The Labor Department said Thursday that the unemployment rate dropped from 5.5 percent in May. The rate fell mostly because many people out of work gave up on their job searches and were no longer counted as unemployed.

    Other details in the report were less encouraging: The percentage of Americans working or looking for work fell to a 38-year low. Average hourly pay was flat. And employers added 60,000 fewer jobs in April and May than the government had previously estimated.

    http://www.huffingtonpost.com/2015/07/02/june-jobs-report_n_7712682.html
     
    #1 Revmitchell, Jul 8, 2015
  2. righteousdude2

    righteousdude2 Well-Known Member
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    That is all well and good, but the truth is:

    http://nypost.com/2015/07/02/jobs-re...up-the-search/

    Per the report, the government doesn't count those who give up and remain unemployed due to their loss of hope: "The rate fell mostly because many people out of work gave up on their job searches and were no longer counted as unemployed."

    http://www.foxnews.com/politics/2015...ages-are-flat/

    There is spin both ways, and I choose to believe the gloomy truth, mostly because I know many, way to many, folks that have given up the ghost of hope and live off the government! We can't have it both ways, Rev. :tonofbricks:
     
    #2 righteousdude2, Jul 8, 2015
  3. carpro

    carpro Well-Known Member
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    Just think, if everyone just gave up on finding work, the unemployment rate would be 0%.

    What a stupid way to count the unemployed.:BangHead:
     
    #3 carpro, Jul 8, 2015
  4. Revmitchell

    Revmitchell Well-Known Member
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    You need to actually read what I posted and not just the title.
     
    #4 Revmitchell, Jul 9, 2015
  5. righteousdude2

    righteousdude2 Well-Known Member
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    Oops. Sorry. :flower:
     
    #5 righteousdude2, Jul 9, 2015
  6. Revmitchell

    Revmitchell Well-Known Member
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    No worries
     
    #6 Revmitchell, Jul 9, 2015
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