Job losses continue to have impact

Author:
Updated:
Original:

The unemployment rate held steady at 5.5 percent in June, but the number of people with jobs continued to trend down. American employers cut jobs by 62,000 for the sixth straight month in June, according to the latest report from the U.S. Department of Labor.

The jobless rate was 4.6 percent last year at this time. Since peaking in December 2007, payroll employment has fallen by 438,000.

Thursday’s report showed that employment continued to fall in construction, manufacturing, and employment services, while health care and mining added jobs. Average hourly earnings rose by six cents, or 0.3 percent, over the month.

Manufacturing employment fell by 33,000. Job losses were widespread throughout the industry, with notable declines in fabricated metal products, printing and related support activities, and wood products. Employment in motor vehicles and parts edged up by 6,000 over the month, largely reflecting the return of workers from strikes and related shutdowns. During the last 12 months, manufacturing has lost 353,000 jobs.

Related

Viking Holds Vaccination Event

The New Jersey-based builder is working with local healthcare providers to offer Covid-19 shots to employees and their families.

Bellingham to Supply Dock for Superyacht Marina

Bellingham Marine will design and install a floating concrete dock system at Hurricane Hole Superyacht Marina in the Bahamas.

Off the Charts

Even as builders faced order backlogs and product shortages, registrations continued to soar in March.

Maverick Boat Group Expands

The Florida-based builder plans to increase production capacity by 30 percent and add 150 new jobs.

Polaris Names CEO and CFO

Previously interim executives, Michael Speetzen was named the CEO and Bob Mack the CFO of the Minnesota-based powersports company.

Sanlorenzo Reports Q1 Financials

The Italian builder continues to gain market share and expects to debut five models at Cannes in September and launch three new lines in 2022.