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Unemployment drops slightly to 9.5 percent - Trade Only Today

Unemployment drops slightly to 9.5 percent

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The unemployment rate edged down to 9.5 percent, the U.S. Bureau of Labor Statistics reported today. That's down slightly, from 9.7 percent in May.

The decline in payroll employment reflected a decrease of 225,000 in the number of temporary employees working on Census 2010. Private-sector payroll employment edged up by 83,000.

However, these figures do not include 2.6 million people classified as "marginally attached to the labor force" who had not searched for work in the four weeks preceding the survey. That figure is an increase of 415,000 from a year earlier.

Both the number of unemployed persons, at 14.6 million, and the unemployment rate, at 9.5 percent, edged down in June.

In June, the number of long-term unemployed (those jobless for 27 weeks or more) was unchanged at 6.8 million.

The number of people employed part time for economic reasons (sometimes referred to as involuntary part-time workers), at 8.6 million, was little changed in the month, but was down by 525,000 during the last two months.

The employment figures come just after Congress adjourned for the holiday weekend without extending jobless benefits to million of unemployed workers.

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