U.S. Bureau of Labor Statistics (BLS) monthly employment report

U.S. Adds 206,000 Nonfarm Payrolls in June; Unemployment Rate Rises to 4.1%

Jul 5, 2024, 12:31 PM

The U.S. economy added 206,000 nonfarm payrolls in June, surpassing expectations of 190,000. However, the unemployment rate rose to 4.1%, higher than the anticipated 4.0% and the highest since November 2021. Wage growth slowed to 3.9% year-over-year. Government and healthcare sectors saw strong hiring. The labor force participation rate increased slightly to 62.6%. Revisions to payroll gains for April and May subtracted 111,000 jobs from previous reports. Average hourly earnings increased by 0.3% month-over-month.