U.S. ADDS 850,000 JOBS IN JUNE, UNEMPLOYMENT RATE RISES SLIGHTLY

Key Points:

  • Total nonfarm payroll employment rose by 850,000 in June as the unemployment rate increased 0.1% to 5.9%.
  • This is the fifth month of job gains after payrolls fell steeply in December.
  • Nonfarm employment is down by 6.8 Million from pre-pandemic levels in February 2020.
  • Employment in leisure and hospitality increased by 343,000, as pandemic- related restrictions continue to ease in many parts of the country.
  • Manufacturing employment rose by 15,000, but is still down 481,000 from its level in February 2020.
  • Construction employment fell in June by 7,000, and is 238,000 lower than February 2020.
  • In June, average hourly earnings for all employees on private nonfarm payrolls increased by 10 cents to $30.40.
  • The average workweek for all private employeesdecreased by 0.1 hour at 34.7 hours in June.
  • The labor force participation rate was little changed again at 61.6% in June and is 1.7% lower than February 2020.