Payrolls Rose in 33 U.S. States in June, Led by Florida
Source: Bloomberg
By Shobhana Chandra Jul 18, 2014 11:51 AM ET
Payrolls rose in 33 states in June and the U.S. unemployment rate fell in 22, adding to signs the labor market was making progress in the world’s largest economy.
Florida led the nation with a 37,400 increase in payrolls, followed by California with 24,200 more jobs, figures from the Labor Department showed today in Washington. South Carolina posted the biggest 12-month decline in the jobless rate -- to 5.3 percent from 7.8 percent.
Advances in hiring across a broad swathe of the country help lift consumer confidence and spur household spending, which accounts for almost 70 percent of the economy. Growth is poised to accelerate in the second half of 2014 after payroll gains exceeded 200,000 in June for the fifth straight month and the jobless rate fell to an almost six-year low of 6.1 percent.
“We can’t keep getting numbers like these and not admit that the labor market has healed,” said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York. “States with higher unemployment are seeing steep declines. Big-number declines equal big progress on putting America back to work.”
Read more: http://www.bloomberg.com/news/2014-07-18/payrolls-rose-in-33-u-s-states-in-june-led-by-florida.html
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