General Economy Shows Weaker Conditions

 

The construction industry shed 22,000 jobs in June, the second month in a row of job losses after the first two months of gains in nearly three years earlier this year.

In the overall economy, weakness was reported in June after several months of improving conditions earlier in the year. Retail sales declined by 0.6 percent from May and payroll employment fell by 125,000. However, the decline in employment is largely attributed to the release of short-term Census workers. Private sector payroll employment increased by 83,000 and is up by 593,000 since the beginning of the year.