Job Growth Stagnant; June Unemployment stuck at 8.2 Percent

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The Labor Department reported Friday that the economy added 80,000 jobs, an unemployment rate of 8.2 percent, during the month of June to make it the third consecutive month of weak hiring.

It is also the third straight year that the economy and job-market has seen a roller-coaster trend. The economy gets a substantial increase in jobs and consumption early in the year only to have a decrease in hiring once spring and summer arrives, The Star Tribune said.

The slowdown trends, economists say, can be connected to "one-time negative shocks," such as the tsunami in Japan and the Arab Spring from 2011, The New York Times said.

Europe's financial crisis is playing the "shock" role for 2012 as it steadily affects U.S. trade, financial markets, and credit availability, the New York Times said.

The rest of 2012 will continue to create little job growth, economists said. 5 million jobs remain lost from when the recession officially ended in 2009, and at the rate jobs are moving it could be three years before employment returns to where it was in 2008, the Star Tribune reported.

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This page contains a single entry by poes0013 published on July 6, 2012 10:59 AM.

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