Total nonfarm payroll employment increased by 209,000 in June, and the unemployment
rate changed little at 3.6 percent, the U.S. Bureau of Labor Statistics reported today.
Employment continued to trend up in government, health care, social assistance, and
construction.
…
The change in total nonfarm payroll employment for April was revised down by 77,000, from
+294,000 to +217,000, and the change for May was revised down by 33,000, from +339,000 to
+306,000. With these revisions, employment in April and May combined is 110,000 lower than
previously reported.
emphasis added
Click on graph for larger image.
The first graph shows the jobs added per month since January 2021.
Payrolls for April and May were revised down 110 thousand, combined.
The second graph shows the year-over-year change in total non-farm employment since 1968.
In June, the year-over-year change was 3.79 million jobs. Employment was up significantly year-over-year.
The third graph shows the employment population ratio and the participation rate.
The Labor Force Participation Rate was unchanged at 62.6% in June, from 62.6% in May. This is the percentage of the working age population in the labor force.
The Employment-Population ratio was unchanged at 60.3% from 60.3% (blue line).
I’ll post the 25 to 54 age group employment-population ratio graph later.
The fourth graph shows the unemployment rate.
The unemployment rate decreased in June to 3.6% from 3.7% in May.
This was at consensus expectations; however, April and May payrolls were revised down by 110,000 combined.
I’ll have more later …