Unemployment rises in June
About 213,000 jobs were added to the U.S. economy in June but the unemployment rate rose to 4.0%, the U.S. Bureau of Labor and Job Statistics reported today.
Most growth occurred in professional and business services, manufacturing, and health care, while retail trade lost jobs.
Unemployment increased by 0.2 percentage points to 4.0%, compared to a jobless rate of 4.3 percent during the same period a year ago. Unemployment had been at an 18-year low of 3.8% last month.
Retail industry employment in June increased by 50,200 jobs unadjusted over the same time last year despite a seasonally adjusted drop from May of 25,800, the National Retail Federation said today.
“This is another solid, robust payroll increase that nicely closes out the second quarter and affirms a very strong economy,” NRF Chief Economist Jack Kleinhenz said. “It is consistent with how consumers feel about the economy and their personal finances. Nonetheless, while payroll gains should translate into increased spending in the coming months, if the trade war spreads it may become a turning point for consumer and business confidence that could affect spending.”
Overall construction employment increased 13% while specialty trade contractor employment rose 3.2%. Employment in building material and garden supply store increased just 0.5%
Employment in professional and business services increased by 50,000 in June and has risen by 521,000 over the year.
Manufacturing added 36,000 jobs in June. Durable goods manufacturing accounted for nearly all of the increase, including job gains in fabricated metal products (+7,000), computer and electronic products (+5,000), and primary metals (+3,000). Motor vehicles and parts also added jobs over the month (+12,000), after declining by 8,000 in May. Over the past year, manufacturing has added 285,000 jobs.
Employment showed little or no change over the month in other major industries, including wholesale trade, transportation and warehousing, information, financial activities, leisure and hospitality, and government.
Most growth occurred in professional and business services, manufacturing, and health care, while retail trade lost jobs.
Unemployment increased by 0.2 percentage points to 4.0%, compared to a jobless rate of 4.3 percent during the same period a year ago. Unemployment had been at an 18-year low of 3.8% last month.
Retail industry employment in June increased by 50,200 jobs unadjusted over the same time last year despite a seasonally adjusted drop from May of 25,800, the National Retail Federation said today.
“This is another solid, robust payroll increase that nicely closes out the second quarter and affirms a very strong economy,” NRF Chief Economist Jack Kleinhenz said. “It is consistent with how consumers feel about the economy and their personal finances. Nonetheless, while payroll gains should translate into increased spending in the coming months, if the trade war spreads it may become a turning point for consumer and business confidence that could affect spending.”
Overall construction employment increased 13% while specialty trade contractor employment rose 3.2%. Employment in building material and garden supply store increased just 0.5%
Employment in professional and business services increased by 50,000 in June and has risen by 521,000 over the year.
Manufacturing added 36,000 jobs in June. Durable goods manufacturing accounted for nearly all of the increase, including job gains in fabricated metal products (+7,000), computer and electronic products (+5,000), and primary metals (+3,000). Motor vehicles and parts also added jobs over the month (+12,000), after declining by 8,000 in May. Over the past year, manufacturing has added 285,000 jobs.
Employment showed little or no change over the month in other major industries, including wholesale trade, transportation and warehousing, information, financial activities, leisure and hospitality, and government.