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June Unemployment Rate Highest Since Nov. 2021, Past Job Gains Revised DownwardJune's seasonally-adjusted 4.1% unemployment rate wasn't just up from May's 4.0% level, it was also the highest monthly unemployment rate since November of 2021 (4.1%).
June's seasonally-adjusted 4.1% unemployment rate wasn't just up from May's 4.0% level, it was also the highest monthly unemployment rate since November of 2021 (4.1%). Meanwhile, BLS revised downward the number of jobs created in April and May by a combined 110,000. As a result, the previously-reported job growth in May was lowered by 54,000, down from a robust 272,000 to 218,000. Despite the downward revision for May, June's job growth of 206,000 still slowed from the previous month. The number of unemployed people rose to 6,8 million, up from 6.6 million in May. Both the unemployment rate and number of unemployed in June are higher than a year earlier, when the jobless rate was 3.6% and the number of unemployed people was 6.0 million. Job gains occurred in government, health care, social assistance, and construction:
Notable declines occurred in retail trade employment, which fell 9,000 in June and employment in professional and business services, which declined 17,000 from May. Subscribe for free to Breaking Christian News here
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