MINNEAPOLIS, Minn. (July 11, 2011) – The June Bureau of Labor Statistics Employment Situation Report mirrors last month’s unfavorable news that the national unemployment rate increased from 9.1 to 9.2 percent.
According to the employment report, nonfarm payroll employment was essentially unchanged in June. Following gains averaging 215,000 per month from February through April, the report comes as grim news as U.S. employment has been essentially flat over the past two months.
According to Tamryn Hennessy, National Director of Career Development at Rasmussen College, today’s job news was not anticipated given economists’ prediction of very modest job growth through June.
Hennessey cited that authors Andrew Sum, Ishwar Khatiwada, Joseph McLaughlin and Sheila Palma suggested that “The lack of any net job growth in the current recovery combined with stagnant real hourly and weekly wages is responsible for this unique, devastating outcome.”
“Though unemployment figures continue to creep upwards, we are seeing a consistent trend that those with higher education are affected less by a tumultuous economy,” Hennessy said. “This underscores the importance of obtaining a post-secondary degree in areas forecasted with above average growth through 2018.”
Though the report indicates significant job loss in financial, insurance and real estate industries as well as government sectors, certain industries have experienced trends of growth. In fact, professional and technical services posted gains of 24,200 driven by 5,700 jobs in computer systems design and related services. Additionally, healthcare and social assistance jobs continued to drive jobs growth with 17,400 jobs.
Hennessy adds, “Those who have a degree in these areas will likely have higher opportunities for employment, as demand predictions remain above average through 2018. Moreover, it’s important for job-seekers to keep in mind that specialized post-secondary education and technical skills lead to higher incomes, greater productivity, and most importantly consistent employment.”
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