June 2023 Jobs report: employment up by 209,000
Here are the key details from the U.S. Bureau of Labor Statistics report for June 2023:
Total nonfarm payroll employment increased by 209,000 in June, and the unemployment rate remained relatively stable at 3.6 percent.
Employment continued to trend upwards in government, health care, social assistance, and construction sectors.
The unemployment rate has ranged from 3.4 percent to 3.7 percent since March 2022.
The unemployment rates for different demographic groups showed little change over the month. For instance, the unemployment rate for Whites declined to 3.1 percent in June, while the rates for adult men (3.4 percent), adult women (3.1 percent), teenagers (11.0 percent), Blacks (6.0 percent), Asians (3.2 percent), and Hispanics (4.3 percent) remained relatively stable.
The number of long-term unemployed (those jobless for 27 weeks or more) was 1.1 million, accounting for 18.5 percent of the total unemployed.
The labor force participation rate was 62.6 percent for the fourth consecutive month, and the employment-population ratio was 60.3 percent.
The number of persons employed part-time for economic reasons increased by 452,000 to 4.2 million in June.
The number of persons not in the labor force who currently want a job was 5.4 million in June, little changed from the prior month.
Average hourly earnings for all employees on private nonfarm payrolls rose by 12 cents, or 0.4 percent, to $33.58. Over the past 12 months, average hourly earnings have increased by 4.4 percent.
The average workweek for all employees on private nonfarm payrolls edged up by 0.1 hour to 34.4 hours in June.
The change in total nonfarm payroll employment for April was revised down by 77,000, from +294,000 to +217,000, and the change for May was revised down by 33,000, from +339,000 to +306,000. With these revisions, employment in April and May combined is 110,000 lower than previously reported.
Dig deeper:
The total civilian labor force in June 2023 was 166,951,000, with an employment level of 160,994,000 and an unemployment level of 5,957,000. The unemployment rate was 3.6%.
Total nonfarm employment increased by 209,000 in June 2023, with private employment contributing 149,000 to this increase. Government employment increased by 60,000.
The unemployment rates varied across different demographic groups, with the rate for Whites at 2.9%, Blacks or African Americans at 6.2%, and Asians at 3.0%. The unemployment rate for the Hispanic or Latino population was 4.2%.
The unemployment rate also varied based on educational attainment, with those holding a Bachelor's degree and higher experiencing the lowest rate at 2.2%.
The unemployment rate for veterans varied based on the period of service, with Gulf War-era II veterans experiencing an unemployment rate of 3.5%.
Persons with a disability had an unemployment rate of 7.3%, while those without a disability had a rate of 3.3%.
The native-born population had an unemployment rate of 3.4%, the same as the foreign-born population.
The total number of wage and salary workers was 147,063,000, with 130,577,000 working full time and 16,486,000 working part time.
The total number of persons who usually work full time was 130,577,000, and those who usually work part time was 28,262,000.
The total number of persons unemployed for less than 5 weeks was 2,056,000, while those unemployed for 27 weeks and over was 932,000.
The total number of women on nonfarm payrolls was 73,530,000.
The average weekly hours for all employees was 34.4, and the average hourly earnings for all employees was $30.40.
The total number of production and nonsupervisory employees on private nonfarm payrolls was 125,761,000, with an average weekly hours of 33.7 and average hourly earnings of $28.83.
The total number of persons who currently want a job was 5,710,000, and the total number of discouraged workers was 321,000.
The total number of multiple jobholders was 7,616,000, and the total number of persons employed part time for economic reasons was 4,062,000.
The index of aggregate weekly hours for all employees was 114.2, and the index of aggregate weekly payrolls for all employees was 233.5.
The index of aggregate weekly hours for all production and nonsupervisory employees was 122.4, and the index of aggregate weekly payrolls for all production and nonsupervisory employees was 235.8.
