Career and Job-Hunting Blog
Career and job-search news, trends, and scoops for job-seekers, compiled by the staff of Quintessential Careers.
|Career and Job-Hunting Blog Index|
|July 3, 2008|
For the sixth month in a row, employers in the U.S. continue to cut employees, jobs. Losses this year near the half-million mark.
The Labor Department reported today that 62,000 jobs were lost in June — equaling the job loss figure for May, which was revised higher from the original estimate of 49,000.
June’s job losses, along with the revised figures, results in a startling 438,000 jobs lost in the economy so far this year. The unemployment rate held steady at 5.5 percent.
Job losses were found in manufacturing, which lost 33,000 jobs; construction, which lost 43,000 jobs; business and professional services, which cut 51,000 jobs; and retailing, which cut 7,500 jobs.
On the positive side, job gains were seen in several sectors, including: government employers, which added 29,000 jobs; education and health services, which also added 29,000 jobs; and leisure and hospitality, which added 24,000 jobs.
In related employment news, the four-week moving average for initial unemployment claims neared the 400,000 benchmark for an economy in a full recession, hitting 390,500 — the highest level since 2005, shortly after Hurricane Katrina.
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