June Employment Outperforms Expectations

June’s larger-than-expected jobs report combined with April and May’s upward revision suggests the economy may not be slowing down, as some previously thought.

Total nonfarm payroll employment reached 222,000 jobs in June according to preliminary numbers reported by the U.S. Bureau of Labor Statistics released on Friday, July 7, 2017.

“Total nonfarm payroll employment exceeded expectations for the month,” said Jay Rollins, owner of JobsWeb.com, a leading job website. “June’s larger-than-expected jobs report combined with April and May’s upward revision suggests the economy may not be slowing down, as some previously thought.”

Payroll employment was revised from 174,000 to 207,000 in April, and 138,000 to 152,000 in May. With these revisions, employment gains in both months were 47,000 more than previously reported.

Unemployment for the month of June reached 4.4 percent, while the number of unemployed persons reached 7 million. “Unemployment for the month increased slightly as a result of more people returning to the workforce after dropping out,” said Rollins. Since the beginning of the year, unemployment has declined by 0.4 percentage point, while the number of unemployed persons has decreased by 658,000.

Employment growth for the month primarily occurred in healthcare (+37,000), professional and business services (+35,000), social assistance (+23,000), financial activities (+17,000), and mining (+8,000). Employment in other major industries, including construction, manufacturing, wholesale trade, retail trade, transportation and warehousing, information, and government, showed little to no change over the month.

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