Labor Dept. Reports Retail Hiring Up, Manufacturing Declines
July 9, 2013
Washington — Hiring reached a new high during the past three months as employers added 195,000 jobs in June and the U.S. Labor Department revised its April and May estimates up a combined 70,000 jobs.
While the retail and private sectors both posted job growth in June, manufacturing and overall GDP did not fare well with a loss of 6,000 manufacturing jobs and a stalled GDP.
Chief economist for the National Association of Manufacturers Chad Moutray wrote on his blog: “This was the fourth straight month of declining manufacturing employment, continuing hiring weakness in the sector. Over the course of the past 12 months, the sector has added just 29,000 new workers, or 1.3 percent of all of the 2.3 million nonfarm jobs added during that time.”
Meanwhile, retailers added 37,000 jobs, a trend expected to continue throughout the year, according to the Labor Department.
Alan Krueger, head of the White House Council of Economic Advisers, also took to his blog to tout the 1.23 million jobs added to the private sector this year and the drop in unemployment from 8.2 percent a year prior to 7.6 percent in June.
<< Candy & Snack TODAY Home