Tuesday, July 7, 2009

Employment numbers drop again; unemployment up

Figure 1. General Unemployment Rate

The Bureau of Labor Statistics released it's monthly unemployment report for June on July 2, 2009. The big news was that non farm payroll employment dropped by 467,000 in June versus 322,000 in May. A 31 percent increases in job loses over the prior month. A sign pointing to a longer and deeper recession.

Figure 2. Non farm payroll

The general employment rose 0.1% to 9.5 while the Black employment rate decreased by 0.2% to 14.7% from 14.9%.

Figure 3. Black unemployment rate

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