The UD June Job Report
By Rebecca Miller
June gloom took a hold of the job market as 125,000 jobs were lost and unemployment rose to 9.7 percent, The Los Angeles Times reported.
According to the news source, the monthly Labor Department employment report suggested that stimulus money is running out, the private sector is struggling and the over seven million jobs deficit could take years to rebuild.
Numbers showed that less than 85,000 private sector jobs were added in June. Additionally, work hours and earnings were cut, the government laid off 225,000 temporary census workers and unemployment increased as many workers dropped out of the job market.
A bright spot in the June Department of Labor report revealed that higher educated job candidates are less likely to be unemployed. According to CBS News, the unemployment rate based on education revealed that 8.2 percent of associate’s degree holders are unemployed, while only 4.4 percent of bachelor’s degree holders or higher are out of work. Unemployment for those with less than a high school degree is at 14.1 percent, while high school diploma holders have a 10.8 percent unemployment.
June did bring job increases in some industries. According to the Bureau of Labor Statistics, the leisure and hospitality; temporary help services; professional and business services, management and technical consulting; business support services; transportation and warehousing; health care and manufacturing industries added jobs in June.
Some experts speculate that this dim report suggests a second recession; while others blame a lack of governmental efforts in job creation. Other speculations point to over optimism by employment analyst and lack of job funding. Whatever the cause of June’s overcast employment outcome, job seekers can increase their chance of getting hired by continually updating their skills and education. Earning a higher degree or taking continuing education courses to stay current will increase your value in today’s tough employment climate.
UniversityDecisions.com, a comprehensive higher education school and degree guide, offers insight into continuing education courses, degree program options and schooling choices. Visit UniversityDecisions.com and learn how you upgrade your employment marketability.