The Labor Department has released its statistics for June. The number of jobs created in June bounced back from the dismal number of May. A respectable 224,000 jobs were created. In spite of the improved jobs number, the unemployment rate rose by 0.1% -- to 3.7%. That's because the work force grew by an even larger number -- 335,000.
Here are the relevant statistics for June:
SIZE OF THE CIVILIAN WORK FORCE:
162,981,000
OFFICIAL NUMBER OF UNEMPLOYED WORKERS:
5,975,000
OFFICIAL UNEMPLOYMENT RATE:
3.7%
DEMOGRAPHIC BREAKDOWN OF OFFICIAL UNEMPLOYMENT:
Adult men...............3.3%
Adult women...............3.3%
Teens (16-19)...............12.7%
Whites...............3.3%
Blacks...............6.0%
Hispanics...............4.3%
Asians...............2.1%
Less than HS diploma...............5.3%
HS graduate...............3.9%
Some college...............3.0%
Bachelor's deg. or more...............2.1%
NUMBER OF MARGINALLY-ATTACHED UNEMPLOYED WORKERS (no longer counted):
1,571,000
MORE REALISTIC NUMBER OF UNEMPLOYED WORKERS (official + marginally-attached):
7,546,000
MORE REALISTIC UNEMPLOYMENT RATE:
4.6%