June Jobs Report: Better, but Millions of Workers Still on the Edge

By Joe Persky

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The June employment situation is largely consistent with recent trends.  It is not remarkable, but those recent trends are better than what we had become used to in the years following the deep losses of the 2007-2009 recession.  Employment over the last year has risen 2.5 million, while employment growth for the last three months has averaged about 270,000 jobs, as the economy recovered from the harshest months of the winter. The report today suggests that the 2014 first quarter GDP decline of 2.9% was not a sign of major weakening, but rather the result of the bad weather early in the year.         

The unemployment rate in June was 6.1%, down from 7.5% a year ago.  That said, the stickiness of the employment population ratio at 59.0% remains a harsh reminder that the “new normal” leaves millions of workers on the edge.  The employment population ratio is up only 0.5% since 2009 and still down 4% since 2007. 

The economy continues to tread water, without making significant progress.  The federal government refuses to provide the stimulus required by the situation.  Federal employment continues to fall, while state and local employment are recovering slowly.  Overall government employment remains below its 2007 level. 

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Joe Persky teaches economics at the University of Illinois at Chicago and is the president of the faculty union there. He is a founding member of CPEG. 

 

 

 

 

 

 

 

Individually signed posts do not necessarily reflect the views of DSA as an organization or its leadership. Democratic Left blog post submission guidelines can be found here.

 

July 2018 NPC Live Stream

July 21, 2018

July 21-22 is the fourth meeting of the current National Political Committee, taking place in New York, NY. DSA members can watch a livestream of the meeting, which will be put online in real time.

The Saturday session will be livestreamed beginning at 9AM ET/8AM CT/7AM MT/6AM PT and ending at 6PM ET/5PM CT/4 PM MT/3PM PT. The Sunday session will be livestreamed beginning at 9AM ET/8AM CT/7AM MT/6AM PT and ending at 2PM ET/1PM ET/12PM MT/11AM PT.

This stream will be limited to DSA members. To check that every person interested in watching is up-to-date with their dues, we ask that you RSVP for access to the livestream.

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New Member Call, July 22

July 22, 2018

July 22, 2018

9pm ET/8 CT/7 MT/6 PT

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You've joined DSA - Great! Now register for this New Member Orientation call and find out more about our politics and our vision. And, most importantly, how you can become involved.

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Talking About Socialism: Create Your Own Rap

July 25, 2018

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9pm ET/8pm CT/7pm MT/6pm PST

This workshop is for those who have already had an introduction to democratic socialism, whether from DSA’s webinar or from other sources. Prepare for conversations about socialism that happen when you table or canvass. Join Steve Max, a founder of the legendary community organizing school, the Midwest Academy, to practice talking about socialism in plain language. Create your own short rap. Use your personal experience and story to explain democratic socialism. 

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New Member Call, August 12

August 12, 2018

August 12, 2018

7:30pm ET/6:30 CT/5:30 MT/4:30 PT

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You've joined DSA - Great! Now register for this New Member Orientation call and find out more about our politics and our vision. And, most importantly, how you can become involved.

Questions or Comments? Contact: 

info@dsausa.org

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