Investing July 7, 2006

Job Growth in June Lower than Expected

July 7, 2006 (PLANSPONSOR.com) - Non-farm payroll employment rose by 121,000 in June, and the unemployment rate was unchanged at 4.6%, according to the Department of Labor's Bureau of Labor Statistics (BLS).
Reported by

Reuters reports that the median estimate from its poll of economists rose to 185,000 jobs, up from an earlier forecast of 155,000, after the ADP National Employment Report said private-sector employers created an estimated 368,000 jobs in June.

BLS data shows employment in the health care industry continued to trend up in June, with a gain of 19,000.

Employment in professional and business services also continued to grow, gaining 25,000 jobs in June. Employment edged up in accounting and bookkeeping services and in computer systems design, while temporary help services employment edged down slightly over the month. Temporary help services employment has decreased by 36,000 since December, BLS reports.

Local government employment was up 24,000 in June with most of the increase in functions other than education.


Employment continued to grow over the month in food services and in whole-sale trade, while the financial sector had little job growth for the second month in a row.

Retail trade employment essentially did not change in June, but it is down by 86,000 since March.

In the goods-producing sector, manufacturing employment edged up by 15,000 in June. Mining employment grew by 6,000. 

The BLS news release is here .

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