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Mixed Signals in Unemployment Report

Mixed Signals in Unemployment Report

The latest jobs report for June indicates 288 thousand jobs were created pushing the unemployment rate down to 6.1 percent. However, in that same report, the workforce participation rate remained at 62.8 percent, a 36 year low and the number of involuntary part time workers, meaning those who were forced to work just part time, rose by 275,000. Also in the report, the number of total unemployed which includes those not working, who have given up and are underemployed is actually twice as high at 12.1 percent. Average hourly earnings still aren't rising much, only 6 cents. One reporter said this labor market is much weaker than the last time the unemployment rate stood at 6.1 percent. Meantime, the number of Americans 16 and older not participating in the labor market climbed to a record high of 92,120,000 in June.
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