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On Friday, the government also revised the job figures for April and March. The revisions were slight compared with recent months, when the government had significantly revised up its initial job estimates. April’s gain was lowered to 149,000 from 165,000. March’s was increased slightly to 142,000 from 138,000. The net loss was 12,000 jobs.
From June through August, employers added an average of 135,000 jobs a month. From September through November, they averaged 182,000. The average was 233,000 from December through February. In the past three months, job gains have averaged 155,000.
May another solid month for women in job market
Unemployment for adult women, those 20 and older, fell for the third time in four months, to 6.5 percent. Here are some details from the government’s report:
Percentage jobless May 2013 April 2013 May 2012
White: 6.7 6.7 7.4
Black: 13.5 13.2 13.6
Hispanic: 9.1 9.0 11.0
Asian.: 4.3 5.1 5.2
Adult men: 7.2 7.1 7.7
Adult women: 6.5 6.7 7.3
Teenagers: 24.5 24.1 24.4
20-24 years old: 13.2 13.1 13.0
25-54 years old: 6.4 6.4 7.1
55 and over: 5.3 5.5 6.5
Source: Labor Department
The economy grew at a solid annual rate of 2.4 percent in the first three months of the year. Consumer spending rose at the fastest pace in more than two years. But economists worry that the steep government spending cuts and higher Social Security taxes that started Jan. 1 might be slowing growth in the April-June quarter to an annual rate of 2 percent or less.
The Social Security tax increase is costing a typical household that earns $50,000 about $1,000 this year, or about $20 a week. For a household with two high-earners, it’s costing up to $4,500.
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