JOBS REPORT

As of June 2018...



EMPLOYMENT & UNEMPLOYMENT



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JUNE EMPLOYMENT


The Department of Labor reported an unemployment rate of 4.0 percent for June with 213,000 jobs created.




NONFARM JOBS

In June, the jobs report shows an increase of 213,000 nonfarm jobs. Sectors with job gains include manufacturing (36,000), health care (25,000), and construction (13,000).

NET INCREASES IN NONFARM JOBS

DOL revised upward the net increases in nonfarm jobs in May, from 223,000 to 244,000, and in April, from 159,000 to 175,000, bringing average monthly job gains for the quarter to 211,000

TAX REFORM CONTINUES TO SPUR ECONOMIC GROWTH. . .


The U.S.has created 1,287,000 new jobs since the Tax Cuts and Jobs Act became law and 3,827,000 new jobs since President Trump was elected in November 2016. 

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U-6 RATE

The U-6rate, a measure of unemployed and underemployed workers, edged up to 7.8 percent.

u-6 UNEMPLOYMENT

By theU-6 measure, 12.7 million Americansare unemployed. These are people who are unemployed (6.6 million), want workbut have not looked for a job recently (1.4 million), or are working part timebecause they cannot find full-time employment (4.7 million). 

LONG-TERM UNEMPLOYMENT

The numberof long-term unemployed, those unemployed for 27 weeks or more, was 1.5 million. They account for 23.0percent of the unemployed.

WAGES

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In June, average hourly earnings for all employees on private nonfarm payrolls rose by 5 cents to $26.98. It is a 72-cent, or 2.7 percent, gain from a year ago.


LABOR FORCE PARTICIPATION

  • The civilian labor force grew by 601,000 in June. 
  • The labor force participation rate ticked up 0.2 percentage point to 62.9 percent. It remains below the pre-recession rate of 66 percent.

  • Issue Tags: Labor, Economy