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News Link • Employment & Jobs


•, Eric Platt
 The report, which follows several months of weak economic gains, has sent U.S. indices sharply lower in pre-market trade, with the Dow now off more than 80 points.

Economists polled by Bloomberg had forecast a gain of 100,000 positions during the month, with private payrolls advancing 106,000. However, the private sector only expanded by some 84,000 positions.

Guy LeBas, an economist with Janney Scott Montgomery, attributed the gains to the durable goods and auto sector, as the manufacturing industry improved by 11,000 jobs this June.

"The spring pattern of dismal payroll growth adds a point in favor our position that the winter job gains were payback for the excess layoffs during the recession and future economic growth won’t be tied tightly to employment," LeBas says. "As recent investment in technology aids highly-skilled workers, under-skilled employees will have fewer opportunities."

The report comes in sharp contrast to private payrolls data out of ADP just a day earlier that showed the economy expanded by 179,000 in June. That figure caused many analysts on Wall Street to raise their expectations going into this morning's announcement.

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