- On July 18, 2023
Summer break is a time for many to refresh by taking a mid-year break and enjoying time outdoors, as well as potentially increasing the number of seasonal opportunities for job seekers. Staff Solve strives to assist employers and job seekers with information and process hiring, as well as the overall economic picture of employment trends in the United States and possible factors involved.
Total nonfarm payroll employment increased by 209,000 in June, and the unemployment rate changed little at 3.6 percent. Both the unemployment rate, at 3.6 percent, and the number of unemployed persons, at 6.0 million, changed little in June. The unemployment rate has ranged from 3.4 percent to 3.7 percent since March 2022.
In June, the labor force participation rate was 62.6 percent for the fourth consecutive month, and the employment-population ratio, at 60.3 percent, was unchanged over the month. The number of persons employed part time for economic reasons increased by 452,000 to 4.2 million in June, partially reflecting an increase in the number of persons whose hours were cut due to slack work or business conditions. Persons employed part time for economic reasons are individuals who would have preferred full-time employment but were working part time because their hours had been reduced or they were unable to find full-time jobs.
The number of persons not in the labor force who currently want a job was 5.4 million in June, little changed from the prior month. 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 was little changed at 1.4 million in June. 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. The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, decreased by 112,000 to 310,000 in June.
Employment in construction continued to trend up in June (+23,000). Employment in the industry has increased by an average of 15,000 per month thus far this year, compared with an average of 22,000 per month in 2022. In June, employment in residential specialty trade contractors continued to trend up (+10,000).
Employment in professional and business services changed little in June (+21,000). Monthly job growth in the industry has averaged 40,000 thus far in 2023, down from 62,000 per month in 2022. Employment in professional, scientific, and technical Employment in transportation and warehousing changed little in June (-7,000) and showed no clear trend in recent months. Over the month, employment edged down in couriers and messengers (-7,000) and in warehousing and storage (-7,000), while air transportation added 3,000 jobs.
Employment showed little or no change over the month in other major industries, including mining, quarrying, and oil and gas extraction; manufacturing; wholesale trade; information; financial activities; and other services.
In June, average hourly earnings for all employees on private nonfarm payrolls rose by 12 cents, or 0.4 percent, to $33.58. Over the past 12 months, average hourly earnings have increased by 4.4 percent. In June, average hourly earnings of private-sector production and nonsupervisory employees rose by 11 cents, or 0.4 percent, to $28.83. The average workweek for all employees on private nonfarm payrolls edged up by 0.1 hour to 34.4 hours in June. In manufacturing, the average workweek was unchanged at 40.1 hours, and overtime was unchanged at 3.0 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls remained at 33.8 hours.
The change in total nonfarm payroll employment for April was revised down by 77,000, from +294,000 to +217,000, and the change for May was revised down by 33,000, from +339,000 to +306,000. With these revisions, employment in April and May combined is 110,000 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.
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