This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

US Economy Adds 195K Jobs, Jobless Rate 7.6 Pct.

Declining government employment has been a drag on the job market since the recession officially ended in June 2009. In a typical recovery, governments add at least 20,000 jobs a month.

Solid hiring in the private sector is lifting wages, even in some lower-paying industries. Average hourly pay for retail employees, for example, rose 6 cents in June to $16.64, and is up nearly 2 percent in the past year.

The overall increase in pay is "the standout feature of this report," said Ryan Sweet, an economist at Moody's Analytics. Low inflation rate is also helping consumers, he noted.

"The tide is continuing to turn for the consumer," Sweet said. "The consumer is going to continue to be able to shoulder this recovery."

June's 7.6 percent unemployment rate is derived from a survey of households, which found that 177,000 more people started looking for jobs last month. Most found them. The rise in job seekers suggests that Americans think their prospects have brightened. Because some job seekers didn't find work right away, the number of unemployed was largely unchanged at 11.8 million.

The job gain for the month is calculated from a separate survey of employers.

The percentage of Americans either working or actively looking for work rose for a second straight month to 63.5 percent. This is called the "labor force participation rate." The participation rate has been generally declining since peaking at 67.3 percent in 2000. That's partly the result of baby boomers retiring and leaving the workforce.

___

AP Business Writer Martin Crutsinger contributed to this report.

___

Follow Chris Rugaber on Twitter at http://Twitter.com/ChrisRugaber

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
4 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs