Total nonfarm payroll employment increased by 206,000 in June, and the unemployment rate
changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Job
gains occurred in government, health care, social assistance, and construction.
…
The change in total nonfarm payroll employment for April was revised down by 57,000, from
+165,000 to +108,000, and the change for May was revised down by 54,000, from +272,000 to
+218,000. With these revisions, employment in April and May combined is 111,000 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 111 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 2.61 million jobs. Employment was up solidly year-over-year.
The third graph shows the employment population ratio and the participation rate.
The Labor Force Participation Rate increased to 62.6% in June, from 62.5% in May. This is the percentage of the working age population in the labor force.
The Employment-Population ratio was unchanged at 60.1% from 60.2% in May (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 increased to 4.1% in June from 4.0% in May.
This was above consensus expectations; however, April and May payrolls were revised down by 111,000 combined.
I’ll have more later …