Nightly News   |  January 01, 1910

More than one million workers give up on job market in June

Employers added 195,000 jobs in June and more in April and May than previously thought, bringing the total to 1.2 million through June. The bulk of the gains were seen in industries such as retail, restaurants and hotels, however, and there was also a jump in the number of part-time workers.The spike in discouraged workers rose above 1 million in June: many of those were people over the age of 55. CNBC’s Kelly Evans reports.

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>>> the government's latest report on jobs was better than analysts expected. employers added 195,000 jobs in june and more than april and may than first thought. unemployment rate remained at 7.6%, because more people looked for jobs, another positive point.

>> good evening, a surprisingly steady pace of job growth here and reassuring sign for those worried that the economy might again buckle in a spring swoon. the prior two months show stronger job growth than previously thought. 1.2 million jobs created through june. best start of a year since 2005 . that's all good news. bulk of gains, seen in retrail, restaurants, hotel, which aren't always the highest quality jobs. also a jump in the number of part-time workers and the spike of the number of discouraged workers, those who left the labor force entirely. that significant rose above 1 million people last month. up 25% from june of last year. and a lot of that gain was centered on people over age 55, giving up on the job market . so taking all of that into account, the unemployment picture looks notably weaker, carl.

>> one thing for those who do have jobs, made a little more in hourly earnings than they have in a while. how encouraging is that?

>> the increase last month, not large itself, matched for the biggest increase we've seen so far in the recovery with inflation pressures low, it means consumers might have a little more spending power and perhaps more confidence this summer.

>> kelly evans with us here on the jobs picture tonight. thanks.