U.S. Employers Add 80,000 Jobs in June as Economy Struggles

By CHRISTOPHER S. RUGABER

WASHINGTON -- U.S. employers added only 80,000 jobs in June, a third straight month of weak hiring that shows the economy is struggling three years after the recession ended.

The Labor Department said Friday that the unemployment rate was unchanged at 8.2%.

The economy has added just 75,000 jobs a month in the April-June quarter. That's one-third of 226,000 a month created in the first quarter. Job creation is also trailing last year's pace through the first six months of 2012.

Stock futures fell modestly after the report came out. Dow Jones industrial average futures were down 24 points before the report at 8:30 a.m., and were down 60 points minutes later.

Yields for government bonds sank, an indication that investors were putting money into the Treasury market. The yield on the 10-year U.S. Treasury note was 1.59% just before the report and 1.57% after it came out.

A weaker job market has made consumers less confident. They have pulled back on spending, even though gas prices have plunged.

High unemployment could shift momentum to Mitt Romney, the presumptive GOP presidential nominee. An Associated Press-GfK poll released last month found that more than half of those surveyed disapproved of President Barack Obama's handling of the economy.

Dismal June job figures could also prompt the Federal Reserve to take further action to try to boost the economy. The Fed last month downgraded its economic outlook for 2012. It predicted growth of just 1.9% to 2.4% for the year and little change in the unemployment rate.

Job gains in April and May were little changed from the department's previous estimates.

There were some good signs in the report. The average work week grew to 34.5 hours from 34.4 in May, boosting many workers' paychecks. And average hourly wages rose 6 cents to $23.50. Hourly pay has increased 2 percent in the past year and is ahead of inflation, which has fallen in recent months along with gas prices.

About one-third of the jobs gained in June were in temporary services. Manufacturing added 11,000, its ninth straight month of gains. But growth in factory jobs slowed sharply in the second quarter compared to the first. Health care added 13,000 jobs and financial services gained 5,000. Retailers, transportation firms and government cut jobs.


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MZymr

We are well aware of the Republican game. It's done at election time when a Democrat is President. Around election time the Republicans who own most of the factories lay off people to make the President look bad. and try and make sure he doesm't get re-elected. And many of the factories they have moved over seas. Remember when Bush gave the millionaires tax breaks, We were told they would create millions of jobs. Well it hasn't happened and it won't. The wealthy are hiding $14 trillion dollars off shore hoping Romney gets in. Now he's a guy who does his banking in Switzerland,Cayman Islands and Bermuda. Wake up America.We were not born yesterday nor the day before.And he has the chutzpah to run for President. Read about Romney in the Daily Finance article. It will turn your stomach.

July 29 2012 at 2:21 PM Report abuse rate up rate down Reply
jwm347

We added 85,000 on disability

July 27 2012 at 4:04 PM Report abuse rate up rate down Reply
Somey

t_trevor

Being conjoined twins makes the screen name switch easier, although sharing a single brain cell makes it more challenging.
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You are challenged

July 08 2012 at 7:46 PM Report abuse -1 rate up rate down Reply
democracks0

I bet Mily and Somey got very tired switching screen names back and forth. LMAO
Two true blue Obamites to the core. LMAO

July 07 2012 at 10:39 PM Report abuse -1 rate up rate down Reply
Somey

t_trevor

someonedumb, the most intelligent thing to ever come from your keyboard is your version of "I know you are, but what am I"

I've attempted to discern the dumbest thing to come from your keyboard, but there's just too many contenders.
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You are weird

July 06 2012 at 7:38 PM Report abuse +4 rate up rate down Reply
Somey

joeproblemchild

seriously though...where was I wrong in my post?

You can continue to throw jabs at people that aren't here, or help me out
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Joe, I was only saying that there is a difference between fact and opinion, and that is all.

July 06 2012 at 5:08 PM Report abuse +2 rate up rate down Reply
1 reply to Somey's comment
Somey

OOPs
facts and opinions

July 06 2012 at 5:10 PM Report abuse +3 rate up rate down Reply
Somey

t_trevor

Many of us still refer to dumbest 1%ers like mily as "useful idiots". We primarily do so because it is such an accurate definition of the pitiful imbeciles.
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"accurate definition of the pitiful imbeciles."
That sounds just like you

July 06 2012 at 5:03 PM Report abuse +2 rate up rate down Reply
indisposed99999

mily469
forbes brings to mind the word idiot. i am not a gambler but bet you imagine dollar bills are equal to brain cells. dumb luck happens. and because you are born into money does not mean anything other than you are born into money.
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So lets review:

1. I pointed out that healthcare insurers are less profitable than 29 other industries.
2. You accused me of making that up, even though I clearly mentioned my source
3. I gave you a link to the source
4. You simply ignore the source because of who it was.

Also, you seem to be unaware that Steve Forbes and Forbes Magazine are not one and the same.
No one equates dollar bills with brain cells. However, you seem to have issues with anyone that possesses either.

John Maynard Keynes (someone you should admire given your political leanings) once said "when the facts change, I change my mind". You have been given proof that the "facts" you use to construct your viewpoint are wrong...yet you don't change your viewpoint.

I have no problem engaging in a debate with someone that holds a different viewpoint. However, I don't tolerate fools well, and you are, quite simply a fool.

July 06 2012 at 3:16 PM Report abuse -4 rate up rate down Reply
indisposed99999

mily469
i understand the sociopath mindset because that is the direction the dialog has been going the last several years. yes it is discouraging.
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Look in the mirror....

July 06 2012 at 3:02 PM Report abuse -4 rate up rate down Reply
indisposed99999

mily469
what? red herring? so you just arbitrarily post something and you hallucinate everyone will believe it as fact? amazing. where i am in the real world you are someone to politely smile at and run away watching your back. haha.
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I am not hallucinating anything, I posted the cite. How about the link to the actual Forbes article, would that get you to admit you are wrong? Somehow I doubt it.

http://money.cnn.com/magazines/fortune/fortune500/2009/performers/industries/profits/

July 06 2012 at 3:01 PM Report abuse -3 rate up rate down Reply