June Jobs Report: U.S. Adds 206,000 Jobs

June Jobs Report: U.S. Adds 206,000 Jobs

In June 2024, the U.S. labor market continued its steady growth, adding 206,000 jobs, slightly below the previous month’s gains but still reflecting a resilient economy. The unemployment rate inched up to 4.1%, marking a slight increase from May’s 4.0%.

Is the U.S. Job Market Expanding?

The data for June 2024 indicate continued strength in the U.S. labor market, with significant job additions in several key sectors.

This growth, despite a slight uptick in the unemployment rate, suggests the economy is adapting well to current challenges and maintaining its overall resilience.

U.S. Unemployment Rates by Group

• Adult women: 3.7%
• Adult men: 3.8%
• Teenagers: 12.1%
• Whites: 3.5%
• Blacks: 6.3%
• Asians: 4.1%
• Hispanics: 4.9%​

Key Employment Statistics for June 2024

• The number of long-term unemployed rose to 1.5 million, making up 22.2% of all unemployed individuals.
• Part-time employment for economic reasons remained steady at 4.2 million.
• Average hourly earnings for all employees on private nonfarm payrolls rose by 10 cents to $35.01, reflecting a year-over-year increase of 4.0%.

Sectors with Notable Job Growth in June

Government

Employment rose by 70,000, reflecting significant gains in local and state government jobs, excluding the education sector.

This increase highlights the robust growth within public sector employment, underscoring its vital role in the labor market.

Healthcare

A total of 49,000 jobs were added, reflecting significant growth within the healthcare sector.

Particularly notable were the substantial increases observed in ambulatory health care services and hospitals.

Social Assistance

The sector experienced an increase of 34,000 jobs, marking significant growth in employment.

This surge was primarily seen in individual and family services.