This report is outdated. Jobs and unemployment information for August 2016 can be found HERE!
The June 2016 Jobs Reports was released by the government's Bureau of Labor Statistics this morning, Friday, July 8. It appears to have been completely overlooked in the wake of the tragedy in Dallas, Texas, last night and earlier this morning in which at least 5 police officers were killed.
The economy added 287,000 jobs, a very large, strong number, making up for the mediocre reports of April and May. 265,000 private sector jobs were added. 22,000 government jobs were added. The pundits expected only 175,000 new jobs, so this report blew those projections out of the water.
Job growth was strongest in food manufacturing, retail trade, information (as communication workers returned to work after a strike against Verizon), professional and business services (particularly temporary help services), health care, social assistance, leisure and hospitality (particularly food service). Job growth, however, was spread across the board in June.
The anemic initial estimates of May (only 38,000 new jobs) were revised downward to only +11,000, but the April numbers were revised from +123,000 to +144,000.
The anemic initial estimates of May (only 38,000 new jobs) were revised downward to only +11,000, but the April numbers were revised from +123,000 to +144,000.
The unemployment rate increased two-tenths of a percent to 4.9% (from 4.7% in May) due to an increase of 414,000 in the labor force. The number of people unemployed increased 347,000 and the number of people employed increased 67,000. The labor force participation rate increased by one-tenth of a percent.
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