US Economy Adds 147,000 New Jobs, Unemployment Rate Dips to 4.1 Percent in June

5Mind. The Meme Platform

The Bureau of Labor Statistics revised the May number higher.

The U.S. job market remained strong in June, as labor conditions continued to hold up amid economic uncertainty.

The economy added a better-than-expected 147,000 jobs last month, according to Bureau of Labor Statistics data released July 3.

For the first time since February, the unemployment rate fell, slipping to 4.1 percent from 4.2 percent.

Economists had expected 115,000 new jobs and an unemployment rate of 4.3 percent, according to FactSet.

Last month’s print was up from the 144,000 reading in May, which was revised slightly higher from 139,000. The April figure was also adjusted higher by 11,000 to 158,000.

Government employment accounted for most of the June gains. Although headcount in the federal workforce declined by 7,000—federal employment is down 69,000 this year—state and local government payrolls represented all of the increase.

Manufacturing payrolls fell by 7,000 for the second straight month.

The number of employed full-time workers advanced by 437,000, while employed part-time workers tumbled by 367,000.

Average hourly earnings rose 0.2 percent, down from 0.4 percent and below the consensus estimate. On a 12-month basis, average hourly earnings eased to a lower-than-expected 3.7 percent from 3.8 percent in the previous month.

The labor force participation rate slipped to 62.3 percent from 62.4 percent, and average weekly hours dropped to 34.2 from 34.3.

The number of long-term unemployed—individuals out of work for 27 weeks or more—surged by 190,000 to 1.6 million and accounted for 23.3 percent of all jobless people.

People working two or more jobs jumped by 282,000 to 8.865 million.

In addition, the gap between employed U.S. and foreign-born workers narrowed slightly last month.

Employed U.S.-born workers soared by 830,000. Conversely, the number of employed foreign-born workers declined by 348,000.

By Andrew Moran

Read Full Article on TheEpochTimes.com

Contact Your Elected Officials
The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.
00:02:22

Young Washington: Movie Review

Sitting in the theater watching Young Washington, I found myself wondering why this story hadn’t been made into a film sooner.
00:02:08

A Movie That’ll Keep You Awake: A Great Awakening

So how does someone (me) who thinks they’ve just seen the greatest movie ever (A Great Awakening), persuade you to watch it?

Ring That Bell

If I could travel back in time to 1776,...

Thoughts On America 250

Before you, American reader, is the honor, blessing, and privilege of celebrating the 250th anniversary of our nation. A nation toward which God has been merciful, shining His great grace.
00:01:39

Citizen Vigilante Delivers the Warning Western Governments Desperately Need to Hear

Citizen Vigilante shows what happens when the state stops defending the native population and shields favored migrant groups while criminalizing native dissent.
00:01:35

Trump Declares National Emergency to Secure US Power Grid From Foreign Cyber Security Threats

President Trump declared a national emergency to secure the national power grid, citing foreign cyber and security threats.

Judge Lifts Block on Trump’s Mail-In Ballot Restrictions

A federal judge in Massachusetts on Aug. 26 lifted a block she ordered against postal service rules that limit mail-in voting.

Meta Settles Lawsuit Alleging Social Media Harms to Children for $17 Billion

Meta Platforms has agreed to pay out as much as $17 billion to settle state claims that it designed Facebook and Instagram to addict children.
00:04:51

Dolly Parton Dies at 80, Family Says

Singer Dolly Parton, who was 80, has died, her family said on Aug. 25, and now she is in the arms of Jesus.
00:05:01

US Imposes 50 Percent Tariffs on Some Canadian Goods After Last-Minute Trade Talks Collapse

U.S. Trade Representative Jamieson Greer said that new tariffs on Canadian imports will take effect as the two nations have failed to reach a trade deal.
00:20:06

First Lady Unveils Racing Collaboration, $2 Million in ‘Fostering the Future’ Scholarships 

First Lady Melania Trump at the White House announce $2 million in scholarships for foster youth, expanding her Fostering the Future initiative.
00:01:31

Trump Announces Pause on 50 Percent Tariff as US, Canada Reach Last-Minute Deal

President Trump announced he would delay an additional 50 percent tariff on certain Canadian goods following last-minute talks between the two countries.
00:01:47

Trump Says He’ll Declare the Hormuz Strait a US Territory ‘Pretty Soon’

President Trump announced his intention to declare the Strait of Hormuz a U.S. territory, introducing a new position regarding the vital waterway.
spot_img

Related Articles

Popular Categories

MAGA Business Central