JEC CHAIR MALONEY STATEMENT ON
JUNE JOBS REPORT

Congresswoman Carolyn B. Maloney, Chair of the Joint Economic Committee released the following statement after the U.S. economy shed 467,000 jobs in June and the unemployment rate rose to 9.5 percent:

"The worst monthly job losses are likely behind us, but the labor market clearly remains weak. It will be a long road to recovery, but the stimulus investments getting underway across the country will create jobs and stem losses."
-      Congresswoman Carolyn Maloney (D-NY), Chair, Joint Economic Committee

Key points from today’s jobs report:
• The economy lost 467,000 jobs in June.  Since the recession began, the economy has lost 6.5 million jobs.  Job losses were widespread with approximately half of the job losses in the service sector this month.  Government payrolls fell by 52,000 jobs last month, mostly from temporary Census workers who were hired two months ago.

• The unemployment rate ticked up to 9.5 percent in June.  A broader measure of unemployment, which includes discouraged workers and workers who are only working part time despite wanting full time employment, also ticked up to 16.5 percent.

• The average work week fell to 33.0 hours, a series low.  The median duration of unemployment increased to 17.9 weeks.  Nearly thirty percent of the unemployed have been unemployed for six months or more.

The Joint Economic Committee, established under the Employment Act of 1946, was created by Congress to review economic conditions and to analyze the effectiveness of economic policy.
 www.jec.senate.gov
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