Showing posts with label Private Sector. Show all posts
Showing posts with label Private Sector. Show all posts

Friday, June 4, 2010

Teenage Unemployment grows in May 2010.

The Department of Labor's new unemployment/employment statistics are less than spectacular for the month of May; as the statistics reflect a growing tide of temporary Census Bureau jobs, and a slowing tide of Private Sector employment. Plus another increase in the teenage unemployment rate.

Overall Job Growth for the Month of May - 431,000.
Government/Census Bureau Job Growth - 390,000.
Private Sector/ Non Farm Job Growth - 41,000.
Private Sector/Manufacturing Job Growth - 29,000.
Private Sector/Construction Job Loss - 35,000.

The overall economic situation of America did not improve last month. The Private Sector did not create anywhere close to enough jobs. The federal government created over 90% of May's "new employment". Plus the Construction Industry (which gained 59,000 jobs in March and April combined) lost 35,000 jobs last month, not good news at all.

Total Unemployment - 9.7% (-0.2%)
Adult Men Unemployment - 9.8% (-0.3%).
Adult Women Unemployment - 8.1% (-0.1%).
Teenage Unemployment - 26.4% (+1.0%).

As a Teenager myself who cannot find a job (at this point I have given up; I'll be enlisting in the United States Navy* later this year), 26.4% teenage unemployment does not surprise me. However, the numbers are telling: Businesses are hiring who they must, who they trust, and who won't cause a bust.

The statistics are depressing. And our recession is not ending.

* - I've been wanting to enlist in the United States Navy for Two Years now, and this awful recession; no job, allows me to serve my Nation without leaving anything behind in Upstate New York.

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