Key Points:
- Total nonfarm payroll employment rose by 372,000 in June as the unemployment rate was unchanged at 3.6%.
- Consensus among economists was a gain of 268,000 jobs.
- June’s job growth is the lowest since April 2021.
- In June, the unemployed population was essentially unchanged at 5.9 million but there were 11.3 million job openings in May.
- Employment in professional and business services rose by 74,000, leisure and hospitality added 67,000 jobs, health care rose by 57,000, transportation and warehousing added 36,000 jobs, and manufacturing increased by 29,000.
- In June, average hourly earnings for all employees on private nonfarm payrolls rose by $0.10 to $32.08.
- The average workweek for all private employees was unchanged again at 34.5 hours in June.
- The labor force participation rate was little changed at 62.2% in June.