July 6, 2018

June 2018 Jobs Report

Unemployment Rate: 4.0 percent

Jobs Created: 213,000

Employment and Unemployment

  1. The Department of Labor reported an unemployment rate of 4.0 percent for June.

  2. 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).

  3. 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.

  4. 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.

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

  6. By the U-6 measure, 12.7 million Americans are unemployed. These are people who are unemployed (6.6 million), want work but have not looked for a job recently (1.4 million), or are working part time because they cannot find full-time employment (4.7 million).  

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

Labor Force Participation

  1. The civilian labor force grew by 601,000 in June.

  2. 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.

Wages

  1. 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.

Issue Tag: Labor