Jobs Growth Drops to 0.0% in June; Most Sectors in Decline
Abstract:
According to the Bureau of Labor Statistics, the U.S. employment figure for June 2008 (-62,000) was the same as for May and yields a year-to-date total of -438,000 jobs. The year-over-year percentage change in employment has now dropped to 0.0%, after four-and-a-half years of (sometimes quite strong) increases. There is now almost exactly the same number of jobs in the economy as there was 12 months ago. Only three sub-sectors are showing percentage increases. Construction is leading the declines.
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According to the Bureau of Labor Statistics, the U.S. employment figure for June 2008 (-62,000) was the same as for May and yields a year-to-date total of -438,000 jobs. The year-over-year percentage change in employment has now dropped to 0.0%, after four-and-a-half years of (sometimes quite strong) increases. There is now almost exactly the same number of jobs in the economy as there was 12 months ago. Only three sub-sectors are showing percentage increases. Construction is leading the declines.