Fri July 5, 2013
Jobs Report Due Out This Morning
Originally published on Fri July 5, 2013 8:40 am
Update at 8:35 a.m. ET. The News Is Out:
Our original post:
The Bureau of Labor Statistics will release the unemployment report for June at 8:30 a.m. ET Friday. Bloomberg News says economists expect to hear that employers added 165,000 jobs to their payrolls last month. That's about the same number as added in May.
Some economists say the unemployment rate, which inched up in May to 7.6 percent, stayed at the same level in June. Others think it edged down to 7.5 percent.
As of June, it has been four years since the U.S. economic recovery officially began.
NPR's Yuki Noguchi tells Morning Edition host Renee Montagne that the level of job growth has been enough to offset population growth and put some people back to work.
But there are concerns that times are getting harder for the long-term unemployed.
"States are pairing back emergency unemployment benefits, in part, because of the sequester," Yuki says.
Despite the automatic federal spending cuts known as sequestration, hiring has been steady and that pace is expected to continue. Before the July 4 holiday, a couple of economic reports were issued indicating hiring remained solid in June.
In its survey, payroll provider ADP said businesses added 188,000 jobs in June. And the Employment and Training Administration said weekly unemployment benefits stayed below 350,000 — indicating fewer layoffs.