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July 09, 2018
The Employment Situation – June 2018
The Bureau of Labor Statistics reported that, “Total nonfarm payroll employment increased by 213,000 in June, and the unemployment rate rose to 4.0%. Job growth occurred in professional and business services, manufacturing, and health care, while retail trade lost jobs.”
Household Survey Data
According to available seasonally adjusted data, in June, there was an increase in the unemployment rate from 0.2% point to 4.0%. In last year, the jobless rate was 4.3%. While 7.0 million was recorded for the number of unemployed persons; however, in this year it increased from 499,000 to 6.6 million.
Among the unemployed in June, the number of job losers and persons who completed temporary jobs increased by 211,000 to 3.1 million while the number of reentrants to the labour force rose by 204,000 to 2.1 million.
The persons who have been jobless for 27 weeks or more increased by 289,000 to 1.5 million which accounted for 23.0 percent of those unemployed.
Establishment Survey Data
Over the last 12 months, there was an increase in June of 213,000 in the total nonfarm payroll employment.
In relation to job being gained, in professional and business services there was an increase of 50,000 and rose by 521,000 over the year. As for manufacturing, in June 36,000 jobs were available. Health care rose by 25,000 and over the year has increased by 309,000.
On the other hand, retail trade lost jobs which amounted to 22,000 offsetting the 25,000 gain that occurred in May.
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