- On July 14, 2022
Total nonfarm payroll employment rose by 372,000 in June and the unemployment rate remained at 3.6% for the fourth month in a row. Private-sector employment has recovered the net job losses due to the pandemic and is 140,000 higher than in February 2020. Among the unemployed, both the number of permanent job losers, at 1.3 million, and the number of persons on temporary layoff, at 827,000, changed little over the month. The number of long-term unemployed (those jobless for 27 weeks or more) was unchanged at 1.3 million and accounted for 22.6% of all unemployed persons.
The labor force participation rate, at 62.2%, and the employment-population ratio, at 59.9%, were little changed over the month. The number of persons not in the labor force who currently want a job was essentially unchanged at 5.7 million. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job. Among those not in the labor force who wanted a job, the number of persons marginally attached to the labor force, at 1.5 million, was essentially unchanged. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. Discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, numbered 364,000 in June, little changed from the prior month.
For the month of June, 2.1 million persons reported that they had been unable to work because their employer closed or lost business due to the pandemic. Among those who stated that they were unable to work because of pandemic-related closures or lost business, 24.8% received at least some pay from their employer for the hours not worked, a little different from the previous month.
Notable job growth occurred in professional and business services, leisure and hospitality, and health care. Employment in professional and business services continued to grow after the previous month, with an increase of 74,000 in June. Within the industry, job growth occurred in the management of companies and enterprises (+12,000), computer systems design and related services (+10,000), office administrative services (+8,000), and scientific research and development services (+6,000). Leisure and hospitality added 67,000 jobs, as growth continued in food services and drinking places (+41,000). Health care rose by 57,000 in June, including gains in ambulatory health care services (+28,000), hospitals (+21,000), and nursing and residential care facilities (+8,000).
In June, transportation and warehousing added 36,000 jobs. Employment rose in warehousing and storage (+18,000) and air transportation (+8,000). Employment in manufacturing increased by 29,000, information adding 25,000 jobs, including a gain of 9,000 jobs in publishing industries, except the Internet. Social assistance rose by 21,000, with employment continuing to trend up in child day care services (+11,000) and in individual and family services (+10,000). Wholesale trade added 16,000 jobs, including 8,000 in nondurable goods, while mining employment rose by 5,000, with a gain in oil and gas extraction (+2,000). Employment showed little change over the month in other major industries, including construction, retail trade, financial activities, other services, and government.
The average hourly earnings for all employees on private nonfarm payrolls rose by 10 cents, or 0.3%, to $32.08. Over the past 12 months, average hourly earnings have increased by 5.1%. Average hourly earnings of private-sector production and nonsupervisory employees rose by 13 cents, or 0.5%, to $27.45. The average workweek for all employees on private nonfarm payrolls was held at 34.5 hours in June. In manufacturing, the average workweek for all employees was little changed at 40.3 hours, and overtime fell by 0.1 hour to 3.2 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls remained at 34.0 hours.
The change in total nonfarm payroll employment for April was revised down by 68,000, from +436,000 to +368,000, and the change for May was revised down by 6,000, from +390,000 to +384,000. With these revisions, employment in April and May combined is 74,000 lower than previously reported. Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.
Staff Solve continues to provide high-quality candidates and jobs in diverse markets for over 27 years. Let us take the stress off you so you can focus on your business by finding the perfect applicant for the position. If you are looking for employment, please visit our job seeker page and check out our job board for current positions. If you would like more information about the services we offer employers, visit our employer page or contact us today.