222,000 jobs added in June

Posted: Jul 07  |  By: Parker + Lynch

Numbers are seasonally adjusted. Source: BLS.gov

222,000 jobs added in June

The Latest From the BLS Employment Report:

The Labor Department released the June jobs report, showing updated hiring and unemployment figures on Friday morning. This is the latest official snapshot of the state of the American economy.

Total nonfarm payroll employment increased by 222,000 in June, and the unemployment rate was little changed at 4.4 percent. June was the 81st consecutive month of job gains.

The unemployment rate is hovering just above its lowest level since 2001. Shortly after the Great Recession ended in 2009, unemployment peaked at 10%.

This month, employment increased in health care, social assistance, financial activities, and mining.

Economists’ predictions

Economists had expected employment gains of 175,000. Actual gains of 220,000 exceeded the expectations.

This Month’s Jobs Report

Let’s break down the numbers from this month’s jobs report.

In June, hourly wages increased by $0.04 to $26.25 per hour, following a 3 cent increase in May. This brings the year-over-year wage percentage increase to 2.5 percent. The unemployment rate saw a slight uptick to 4.4 percent.

Wages

  • $26.25 June
    • 0.04 month-over-month
    • 2.5% year-over-year
  • $26.21 May

Unemployment

  • 4.4% June
    • 0.1% month-over-month
  • 4.3% May

National Unemployment Rate

June 2015-2017

Source: BLS.gov

In-Depth Look: Our Industries

Let’s take a look at how the Accounting and Finance industry is performing.

Finance and insurance

  • Month-over-month change: 7,100
  • 111,000 jobs added year-over-year

Legal services

  • Month-over-month change: 2,000
  • 10,000 jobs added year-over-year

Accounting and bookkeeping services

  • Month-over-month change: -300
  • 19,300 jobs added year-over-year

Financial activities

  • Month-over-month change: 17,000
  • 169,000 jobs added year-over-year

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