U.S. Job Growth Extends Streak, but Signs of Concern Emerge
What was the U.S. job growth status in June?
In June, the U.S. labor market showed resilience with the addition of 206,000 jobs, surpassing forecasts. However, the unemployment rate rose to 4.1%, and job growth in prior months was revised downward. This indicates a steady, but slightly cooling, employment environment.
How many jobs were added in June?
In June, U.S. employers added 206,000 jobs, according to the Labor Department's report. This number exceeded economists' expectations and marked the 42nd consecutive month of job growth. However, the unemployment rate rose slightly to 4.1% as job gains for April and May were revised downward3.
How does the current unemployment rate compare to November 2021?
The current unemployment rate, at 4.1%, is higher than it was in November 2021, when it stood at 4.2%. This increase is noteworthy as it is the highest rate since November 2021. However, it's important to note that the economy added 206,000 jobs in June, marking the 42nd consecutive month of job growth.