Latest jobs report shows job creation, as well as negative signs
Almost 200,000 jobs were created, and unemployment held steady according to the latest jobs report from the federal government. But an economist at Ball State says there were also plenty of signs that the labor market is not headed in the right direction. While the national unemployment rate remained 7.6 percent in June as it was the previous month, Mike Hicks of Ball State‘s Center for Business and Economic Research says all of the job growth was in part-time employment. The jobs report showed that there were 240,000 fewer full-time jobs in June than in May, which Hicks says means a lot of jobs were generated that will likely disappear once summer is over. Hicks believes the rapid growth in part-time employment versus full-time jobs is one reason the Obama administration announced that it was delaying by one year the Affordable Care Act mandate that employers provide insurance to employees working 30 hours per week or more.