Robust job growth rebound calms fears about the economy
US Jobs Report – June 2016
On Friday, July 8, the Bureau of Labor Statistics released its monthly employment situation report for June, which is a widely used indicator for the health of the labor market. The June report exceeded job growth expectations rebounding from a disappointing gain in May. The overall labor force expanded as more people entered the workforce driving the unemployment rate slightly higher.
- U.S. adds 287,000 new jobs as companies increased hiring in June – a sigh of relief after changing little in May
- The unemployment rate rose to 4.9% from 4.7% as more people entered the labor force in search of work
- The labor force participation rate rose a tick in June to 62.7% from 62.6%
- The size of the labor force has increased by about half a million in the past five months
- 1st-quarter GDP raised again to 1.1% – still one of the weakest performances in the past several years
Want to know more about the top trends in the job market? Check out the US Labor Market Update from Monster Intelligence.