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US Unemployment Rate Rises

Helene Imperiale |
June 7, 2013 | 10:12 a.m. PDT

Executive Producer

In May of 2013, the United States added 175,000 jobs. According to the U.S. Department of Labor expectations, unemployment rose “slightly above” what they had originally predicted to 7.6%.

According to The New York Times, “at the current pace of job growth, it would take nearly five years to get the economy back to the low unemployment rate it enjoyed when the recession officially began in December 2007.” 

Although many Americans remain optimistic about the job market, in the last two months, average weekly pay and hourly earning have showed little improvement. Many jobs in America remain unfilled, meaning that in order to fill these positions wages should increase. Additionally, to add to the problem, the majority of jobs that are available are in low paying industries such as retail, restaurants, and bars.  In addition to the lower paying jobs, business and profession help desk services also added jobs. Around 2% of American jobs were in this category.

The U.S. Government lost 14,000 jobs in May, most likely due to the government sequester implemented in March by Congress.  The federal government has lost more than 45,000 jobs over the last three months. Beginning in July, 680,000 workers at the Pentagon will loose one paid day a week.

The Wall Street Journal, clearly defines how the United States measures unemployment by stating, “The unemployment rate is calculated based on the number of unemployed — people who are without jobs, who are available to work and who have actively sought work in the prior four weeks.”


Reach Executive Producer Helene Imperiale here. Follow her here.



 

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