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Economy Overview

United States

Report | U.S. Employment Update - June 2012


May’s national update further exemplifies the economic unease of late, characterized by contraction across the board. Like April, May saw cuts in nearly every major category, but at a faster rate of decrease. While tech and energy still maintain their lead in economic and employment growth, they too are registering a slowdown. Specific subsectors are still growing rapidly year-on-year, such as oil and gas extraction (12.6 percent) and other information services (6.7 percent). On the other hand, office-using jobs remain flat with no net change; this field typically surpasses overall non-farm employment. The increase in financial activities employment comes at a time of continued uncertainty over the Eurozone, and is the result of growth in the insurance industry.


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