June Jobless Rate Rises Less Than Expected

By John S. McClenahen Overall U.S. unemployment rose to 4.5% in June, reports the U.S. Labor Dept.'s Bureau of Labor Statistics. The rate is up a tenth of a percentage point from May's 4.4% mark, but a tenth of a percentage point less than the 4.6% widely expected. During each of the three months in this year's April to June calendar quarter, the jobless rate was either 4.4% or 4.5%, about a half percentage point higher than its most recent low of 3.9%, which came in October 2000. However, unlike the small increase in the overall unemployment rate in June, the number of unemployed in manufacturing soared. Manufacturing lost 113,000 jobs in June, bringing the total since last July to 785,000 jobs. Most of the losses -- a stunning 75% of them -- have come since the end of 2000.

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