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The labor market continued to gain momentum and defy a mixed economy in June as employers added 288,000 jobs, the Labor Department said Thursday.

The unemployment rate fell to 6.1% vs. 6.3% in May. That's the lowest it's been since September 2008.

Economists had estimated that 215,000 jobs were added last month.

The economy has now gained at least 200,000 jobs a month for the past five months — the first such stretch since September 1999-January 2000.

FIRST TAKE: Wall Street's obsession with jobs data

In June, businesses added 262,000 jobs, with professional and business services, retail and health care leading the broad-based gains. Federal, state and local governments added 26,000.

Also encouraging: Job gains for April and May were revised up by a total 29,000.




April's increase was revised to 304,000 from 282,000 and May's to 224,000 from 217,000. April's total marks the first time monthly job gains topped 300,000 since January 2012.

Payroll additions have averaged 272,000 the past three months and 231,000 for the year, vs. 194,000 in 2013.

Bob Baur, chief global economist of Principal Global Investors, says accelerating job growth is feeding into a virtuous cycle, in which stronger payroll gains lead to higher consumer spending and further employment advances.

Conks like that!!!!!



Noting that the average workweek for manufacturing employees is at a record high of 41.1 hours, he says that many businesses that see stronger sales "are not going to have a choice but to add payroll."

Last month, professional and business services added 67,000 jobs; retailers 40,000; leisure and hospitality, 39,000; and education and health services, 38,000.

Local governments continued a recent surge in employment, adding 22,000 jobs.

Some other labor market indicators were positive as well.

The number of Americans out of work at least six months dropped by 293,000 to 3.1 million. The long-term unemployed still make up 32.8% of all the jobless.

A broader measure of distress in the job market — which includes part-time employees who prefer full-time jobs, Americans who have given up looking for work, and the unemployed — dipped to 12.1% from 12.2%.

The average workweek was unchanged at 34.5 hours for the fourth-straight month. Employers often add hours before adding staffers. Hourly earnings rose 6 cents to $24.45.

One modest disappointment is that the report did not reveal the pickup in wage gains that economists have been anticipating. Average hourly earnings are up just 2% over the past 12 months. That likely will prompt the Federal Reserve to stick to a rough blueprint that doesn't have it raising short-term interest rates before the middle of 2015, says Paul Ashworth of Capital Economics.

But Ashworth expects wage increases to accelerate the second half of the year, leading the Fed to raise rates next March.

Several economists expected continued strong employment advances after private payroll processor ADP released its own survey Wednesday, showing that businesses added 281,000 jobs in June — the most since November 2012.

Also, initial jobless claims have fallen to pre-recession levels, and surveys of service-sector employment are indicating a pickup in hiring. Outplacement firm Challenger, Gray & Christmas said Thursday that announced job cuts fell to 31,434 in June from 52,961 in May and are down 5% so far this year.

Goldman Sachs had cautioned that the labor market might have taken a breather in June after four months of 200,000-plus gains, noting that a bounce-back in hiring after the harsh winter weather may be losing steam.





"Man, this reversin' Conk disasters is hard-ass work!"

Obama: claim credit when things go right, blame others when things go wrong.

A perfect politician

DSUrocks07 wrote:Obama: claim credit when things go right, blame others when things go wrong.

A perfect politician

ConkButtHurt?


Obama: Outsmarting Conks every second of the day!

A perfect president

Cap'n Cat wrote:

DSUrocks07 wrote:Obama: claim credit when things go right, blame others when things go wrong.

A perfect politician

ConkButtHurt?


Obama: Outsmarting Conks every second of the day!

A perfect president

As long as he doesn't read the news, everything is just Aces.

Ibanez wrote:

Cap'n Cat wrote:
ConkButtHurt?


Obama: Outsmarting Conks every second of the day!

A perfect president

As long as he doesn't read the news, everything is just Aces.

Crap'n Cat, back to the wall, cites Bureau of Labor Statistics U3 unemployment figure...crafted by LBJ to conceal his own icompetence.

Sorry Cappy...once again, you're toast. Add back in all the cookbook exclusions, and unemployment is 23%.

http://www.shadowstats.com/

Ibanez wrote:

Cap'n Cat wrote:
ConkButtHurt?


Obama: Outsmarting Conks every second of the day!

A perfect president

As long as he doesn't read the news, everything is just Aces.

How the hell is he supposed to find out what his cabinet members are doing if he doesn't read the news?

travelinman67 wrote:Crap'n Cat, back to the wall, cites Bureau of Labor Statistics U3 unemployment figure...crafted by LBJ to conceal his own icompetence.

Sorry Cappy...once again, you're toast. Add back in all the cookbook exclusions, and unemployment is 23%.

http://www.shadowstats.com/

No, back in the ConkKwalifiers that only come out if it involves a woman or balack candidate.



Make one up for Bush, '08-'09 chubby.

He didn't make those jobs. The business owners did.

Cap'n Cat wrote:

travelinman67 wrote:Crap'n Cat, back to the wall, cites Bureau of Labor Statistics U3 unemployment figure...crafted by LBJ to conceal his own icompetence.

Sorry Cappy...once again, you're toast. Add back in all the cookbook exclusions, and unemployment is 23%.

http://www.shadowstats.com/

No, back in the ConkKwalifiers that only come out if it involves a woman or balack candidate.



Make one up for Bush, '08-'09 chubby.

Hey! Cappy! A little help here!

Ibanez wrote:He didn't make those jobs. The business owners did.

Actually, Obama made a lot of them. Many of them are federal government jobs and state and local government jobs necessitated by increased regulation.

The really bad news is that full-time jobs actually decreased. The net gain comes from low-paying temp and seasonal jobs.

travelinman67 wrote:Crap'n Cat, back to the wall, cites Bureau of Labor Statistics U3 unemployment figure...crafted by LBJ to conceal his own icompetence.

Sorry Cappy...once again, you're toast. Add back in all the cookbook exclusions, and unemployment is 23%.

http://www.shadowstats.com/

Conks discovered the difference in January of 2009.

kalm wrote:
Conks discovered the difference in January of 2009.

and not one minute before...

kalm wrote:

travelinman67 wrote:Crap'n Cat, back to the wall, cites Bureau of Labor Statistics U3 unemployment figure...crafted by LBJ to conceal his own icompetence.

Sorry Cappy...once again, you're toast. Add back in all the cookbook exclusions, and unemployment is 23%.

http://www.shadowstats.com/

Conks discovered the difference in January of 2009.

Kinda like how the Donks suddenly forgot to complain about the creation of low wage jobs after December 2008?

Ibanez wrote:He didn't make those jobs. The business owners did.

He didn't kill bin Laden either.

houndawg wrote:

Ibanez wrote:He didn't make those jobs. The business owners did.

He didn't kill bin Laden either.

No, he read about that in the paper. Just like everything else that happens on his watch.

Baldy wrote:

kalm wrote:
Conks discovered the difference in January of 2009.

Kinda like how the Donks suddenly forgot to complain about the creation of low wage jobs after December 2008?

Bout the same time frame for when conks started rooting for higher wages .

kalm wrote:

Baldy wrote: Kinda like how the Donks suddenly forgot to complain about the creation of low wage jobs after December 2008?

Bout the same time frame for when conks started rooting for higher wages .

It's fucking amazing, ain't it?

AZGrizFan wrote:

kalm wrote:
Bout the same time frame for when conks started rooting for higher wages .

It's fucking amazing, ain't it?

Well at least you and I voted our conscience last time around.

AZGrizFan wrote:

kalm wrote:
Bout the same time frame for when conks started rooting for higher wages .

It's fucking amazing, ain't it?

Well at least you and I voted our conscience last time around.

kalm wrote:

AZGrizFan wrote:
It's fucking amazing, ain't it?

Well at least you and I voted our conscience last time around.

288k is only about 20 mill away from where it should be

ALPHAGRIZ1 wrote:288k is only about 20 mill away from where it should be

Man, you should run for office, T, Jr.!

AZGrizFan wrote:

Ibanez wrote: As long as he doesn't read the news, everything is just Aces.

How the hell is he supposed to find out what his cabinet members are doing if he doesn't read the news?

Hmmm. You got a point.....

houndawg wrote:

Ibanez wrote:He didn't make those jobs. The business owners did.

He didn't kill bin Laden either.

Unless he was the member of Seal Team Six that pulled the trigger, he didn't. He merely provided the opportunity for Bin Laden to be killed.