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June 2010 Unemployment

The BLS report – released July 2, 2010.

Total nonfarm payroll employment declined by 125,000 in June, and the unemployment rate edged down to 9.5 percent, the U.S. Bureau of Labor Statistics reported today. The decline in payroll employment reflected a decrease (-225,000) in the number of temporary employees working on Census 2010. Private-sector payroll employment edged up by 83,000.

Remember, the economy needs 100 to 150 thousand new hires each month just to hold even. To start the long road to lower unemployment significantly requires 250 to 350 thousand new hires per month. The percent unemployed dropped because a bunch of people quit looking – again.

Modified labels on Calculated Risk chart below the fold. Click chart for a larger image.

June 2010 Recessions Unemployment

Read more with additional charts at Calculated Risk.

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Related posts:

  1. May 2010 Unemployment
  2. March Unemployment
  3. Geoff’s Unemployment Chart — June Edition
  4. About those new Unemployment claims
  5. Robert Gibbs on unemployment – now at 10.2%

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