by Calculated Risk July 5, 2024 8:30 AM
From the BLS: Employment status
Total nonfarm payrolls increased by 206,000 in June.and the The unemployment rate was little changed at 4.1%.The U.S. Bureau of Labor Statistics reported job gains today, with job gains in government, health care, social assistance and construction.
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The change in nonfarm payrolls for April was revised downward by 57,000 from +165,000 to +108,000, and the change in May was revised downward by 54,000 from +272,000 to +218,000. These revisions caused the combined employment figure for April and May to fall by 111,000 jobs from the last reported figure..
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The first chart shows the number of jobs added each month since January 2021.
The combined number of employed persons for April and May was revised down to a decrease of 111,000.
The second chart shows the year-over-year change in total nonfarm employment since 1968.
The year-over-year change in June was 2.61 million. Employment increased steadily year-over-year.
The third graph shows the employment-population ratio and participation rate.
The labor force participation rate, which is the percentage of working-age people in the labor force, rose to 62.6% in June from 62.5% in May.
The employment-population ratio remained unchanged at 60.1% from 60.2% in May (blue line).
A graph showing the employment ratio of people aged 25 to 54 will be posted later.
The fourth graph shows the unemployment rate.
The unemployment rate rose to 4.1% in June from 4.0% in May.
This was above consensus expectations, but the April and May payrolls figures were revised down by a combined 111,000.
I’ll show you more later…
