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Friday, July 8, 2016

Employment Rebounds: 287,000 Jobs Added in June, Unemployment at 4.9%

Total nonfarm payroll employment rose by 287,000 in June, the highest monthly increase since October 2015. The national unemployment rate rose to 4.9%.



Leisure and hospitality added 59,000 jobs, after little change in May. Healthcare and social assistance added 58,000 jobs. Financial activities employment rose by 16,000 and has risen by 163,000 over the year. Employment in information increased by 44,000 and professional and business services added 38,000 jobs. Retail trade edged up by 30,000 while mining continued the downward trend subtracting 6,000 jobs in June.

The civilian labor force participation rate was 62.7%, little changed from May. The number of long-term unemployed, those jobless for 27 weeks or more, changed little in June at 2.0 million. Discouraged workers, those who gave up looking for work, was 502,000, down 151,000 from a year ago.

Average hourly earnings edged up 2 cents to $25.61, following a 6 cent increase in May. Year-over-year earnings have grown by 2.6%.

Read the BLS release.
Visit Banks and the Economy.

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