Calculated Risk July 5, 2024 8:30 AM
From the BLS: Employment Status
The U.S. Bureau of Labor Statistics announced today that total nonfarm payrolls increased by 206,000 in June, while the unemployment rate was little changed at 4.1%. Job gains were seen in the government, health care and social assistance, and construction sectors.
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The change in total nonfarm payrolls for April was revised downward by 57,000 from +165,000 to +108,000, and the change in May was revised downward by 54,000 from +272,000 to +218,000. With these revisions, the combined payroll for April and May was down 111,000 from the last report.
Emphasis added; click on the graph to enlarge the image.
The first chart shows the number of jobs added each month since January 2021.
The total number of employed persons increased by 206,000 in June. The number of private sector employees increased by 136,000, and the number of public sector employees increased by 70,000.
The combined number of employed persons for April and May was revised down to a decrease of 111,000.
The second chart shows the year-over-year change in total nonfarm employment since 1968.
The year-over-year change in June was 2.61 million. Employment increased steadily year-over-year.
The third graph shows the employment-population ratio and participation rate.
The labor force participation rate, which is the percentage of working-age people in the labor force, rose to 62.6% in June from 62.5% in May.
The employment-population ratio remained unchanged at 60.1% from 60.2% in May (blue line).
A graph showing the employment ratio of people aged 25 to 54 will be posted later.
The fourth graph shows the unemployment rate.
The unemployment rate rose to 4.1% in June from 4.0% in May.
This was above consensus expectations, but payrolls for April and May were revised down by a combined 111,000.
I'll show you more later…
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