Employment Figures not Expected to be Robust

Anchorage Daily News states weekly unemployment benefit applications fell 14,000 to a seasonally-adjusted 374,000 according to the U.S Dept. of Labor, the fewest in six weeks. While economists predict only 90,000 jobs were added last month, payroll provider ADP counts 176,000 jobs added in June. ADP only measures private sector jobs, not government workers. The labor department said employers added an average of 73,000 jobs in April and May, well below the 223,000 average for the first three months of the year. The total number of people receiving benefits fell 20,000 for the week ending June 16. With retail sales and manufacturing down for June, the economy only expanding at a 1.9 percent rate Jan.–March of this year, and consumer confidence falling in June for the fourth consecutive month, it is not anticipated job growth will be very high.

(Image credit: jobsearch/Karen Roach)

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