Census Layoffs Mean Economy Shed Jobs in June

By:: Kirk Haverkamp | July 02, 2010

The economy shed 125,000 jobs in June, as moderate growth in private employment was offset by scheduled layoffs of large numbers of temporary workers hired to conduct the 2010 Census.

The official unemployment rate fell to a seasonally adjusted 9.5 percent, down from 9.7 percent in May, although increasing in absolute, nonadjusted terms, according to the monthly employment report issued this morning by the Labor Department.

The decline in jobs was largely expected, due to the scheduled layoff of 225,000 temporary census workers. Private sector employment rose by a modest 83,000 jobs in June, following an anemic increase of 33,000 in May.

U.S. Secretary of Labor Hilda Solis noted that despite the overall decline, the U.S. private sector has added 600,000 jobs since the beginning of the year, an average of 100,000 a month, which she contrasted to losses of 700,000 a month that were occurring during the worst of the downturn.

In absolute terms, the unadjusted unemployment rate rose to 9.6 percent of the civilian labor force in June, up from 9.3 percent in May. Another 1.5 percent of the work force was described as “marginally attached,” those who are available to work but have become discouraged or given up seeking work for other reasons, putting total unemployment at a seasonally adjusted 11.0 percent.

Another 5.5 percent are described as being unable to obtain more than part-time work, putting the total “underemployment” rate at 16.5 percent of the work force.

Nearly half of all unemployed, 45.5 percent, have been without work for 27 weeks or longer, and are regarded as long-term unemployed. The average length of unemployment for all jobless workers was 35 weeks and has been increasing steadily.

Call For Rates

800-419-1494

Speak to a lender now.

We will match calls to our toll free number with our network of lenders.

National Rates

Loan Type	Today	+/-
30 yr fixed	3.69
15 yr fixed	3.00
5/1 ARM	2.69

Rates may contain points

Compare Rates »

Browse Mortgage Rates

Featured Guides

Browse our comprehensive guides to popular topics related to mortgage and personal finance.

Personal Finance Calculators

Mortgage Loan Directory and Information, LLC or Mortgageloan.com does not offer loans or mortgages. Mortgageloan.com is not a lender or a mortgage broker. Mortgageloan.com is a website that provides information about mortgages and loans and does not offer loans or mortgages directly or indirectly through representatives or agents. We do not engage in direct marketing by phone or email towards consumers. Contact our support if you are suspicious of any fraudulent activities or if you have any questions.

Mortgageloan.com is a news and information service providing editorial content and directory information in the field of mortgages and loans. Mortgageloan.com is not responsible for the accuracy of information or responsible for the accuracy of the rates, APR or loan information posted by brokers, lenders or advertisers.