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Economy Overview

United States

Report | U.S. Employment Update - June 2012

Summary

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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