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Friday, July 7, 2017

222,000 Jobs Added in June

Total nonfarm payroll employment rose by 222,000 in June, an increase from May’s upwardly revised figure of 152,000, according to the Bureau of Labor Statistics. The national unemployment rate nudged up to 4.4%.
Private service-providing industries added a net 162,000 jobs, led by gains in health care and social assistance, which added 59,100 during the month, and by the leisure and hospitality sector, which added 36,000.

Goods-producing employment rose by 25,000 jobs during the month, as gains in construction led the way for the second consecutive month by adding 16,000 in June.

The civilian labor force participation rate was 62.8%, a 0.1% increase from May. Workers unemployed for less than 14 weeks increased 124,000, while the number of long-term unemployed, those jobless for 27 weeks or more, was virtually unchanged at 1.67 million and accounted for 23.8% of the unemployed. The number of discouraged workers was 514,000, a 159,000 increase after four straight monthly declines.

Average hourly earnings increased by 4 cents to $26.25, after a 3-cent increase in May. Over the past year, average hourly earnings have risen by 63 cents, or 2.5%.

Read the BLS release.
Visit Banks and the Economy.

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