US added 213,000 jobs in June; unemployment rose to 4 pct.

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There are two components to unemployment: structural unemployment and cyclical unemployment. Structural unemployment describes the "baseline" rate even in a growth economy. In a market economy, it exists because labor conditions change, industry demand patterns change, etc and therefore there will be someone who is on the transition. [1] Historically, structural unemployment has been about 3-6% in the United States (much higher in Europe), although recently (I argue elsewhere) that structural unemployment itself has risen. When unemployment rate is in this range, it is considered full employment. That means, full employment does not mean everyone in the labor force is employed.

Every one of the numbers the US government puts out are based on estimates. Professor Thomas Sowell pointed this out quite eloquently in a speech. Www.libertypen.com