June Job Loss Hit Most Industries
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The 437,000 jobs lost in June were spread throughout most U.S. industries, according to the Labor Department’s Bureau of Labor Statistics (BLS).
Manufacturing employment fell by 136,000 in June, while employment in construction decreased by 79,000. Job losses in professional and business services shot up in June, with the industry shedding 118,000 jobs. Retail trade employment was down by 21,000 in June.
Education and health care employment increased by 34,000, and employment in government dropped by 52,000 in June.
The overall unemployment rate increased to 9.5 percent in June, putting it at a 26-year high.
AFL-CIO President John Sweeney said today’s jobs data show that creating jobs is the key to a full economic recovery.
Congress and the Obama administration need to continue to remain focused on stimulus efforts to end the recession. Additionally, this is not just a problem in the United States, but at this stage, job loss is the vortex of the global economic crisis. To address this problem we believe that all governments should focus an extra 1 percent of GDP [gross domestic product] for stimulus focused on job creation.
