Rise in U.S. joblessness broad-based as 44 states show gain

Payroll Gains

Today’s report also showed employers in California added 25,200 workers to payrolls in July, and those in Michigan took on 21,800 more employees. Virginia was third, with a 21,300 gain. New Jersey and Missouri had the biggest decreases.

State and local employment data are derived independently from the national statistics, which are typically released on the first Friday of every month. The state figures are subject to larger sampling errors because they come from smaller surveys, making the national figures more reliable, according to the government’s Bureau of Labor Statistics.

Employers nationwide added 163,000 jobs last month, more than the median forecast of economists surveyed by Bloomberg and following a revised 64,000 gain in June, Labor Department data showed on Aug. 3. The increase, driven by automakers and health- care providers, eased concern the three-year economic expansion is faltering.

Including the July gain, the U.S. has recovered 4 million of the 8.8 million jobs lost as a result of the 18-month recession that ended in June 2009.

At the same time, the jobless rate has exceeded 8 percent for 42 consecutive months, the longest stretch in the post-World War II era.

“Growth in employment has been slow in recent months, and the unemployment rate remains elevated,” Fed policy makers said in a statement on Aug. 1 after their meeting.

Bloomberg News

Copyright 2014 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments
comments powered by Disqus