July 2, 2020

June 2020 Jobs Report


Unemployment Rate: 11.1 percent

Jobs Created: 4.8 million


Employment and Unemployment          

  1. The Department of Labor bases monthly jobs reports on a survey of businesses and a survey of households. The survey data relate to the pay period or calendar week containing the 12th day of the month. The report generally will not reflect labor market changes near the end of the month.

  2. By mid-June, nearly all states had ended their stay-at-home orders, and all were letting certain non-essential businesses reopen under restrictions. States have continued to reopen at different paces, while keeping public health measures in place.

  3. DOL reported the unemployment rate fell 2.2 percentage points to 11.1% in June.

  4. Nonfarm jobs increased by 4.8 million in June.

  5. The department revised the change in nonfarm jobs for April and May up on net by 90,000 jobs.             

  6. The U-6 unemployment rate, a broader measure that includes part-time and discouraged workers, dropped 3.2 percentage points to 18.0% in June.

Labor Force Participation

  1. The labor force participation rate, the share of people employed or looking for work, rose 0.7 percentage point to 61.5%.

Wages

  1. In June, average hourly earnings for all employees in private nonfarm jobs decreased by $0.35 to $29.37, mostly due to more lower-paid workers finding work.

Issue Tags: COVID-19, Labor