Keeping you up to date on the latest data releases.
In June, total nonfarm payroll employment rose by 195,000, coming in at the high end of the consensus range, and the unemployment rate was unchanged at 7.6 percent. On the household side of the report, both the labor force participation rate and the employment-to-population ratio ticked up 0.1 percent to 63.5 percent and 58.7 percent, respectively.
As for the establishment side of the report, upward revisions to both April and May have added a total of 70,000 jobs than previously reported. Over the past 12 months employment growth has averaged a total of 182,000 jobs per month, and just over 200,000 jobs per month in the first half of this year. Leisure and hospitality led employment gains in June by adding 75,000 jobs followed by professional and business services, up 53,000, and retail trade, up 37,000. Government continues to lead employment declines, falling 7,000 for the month, and was closely tailed by manufacturing employment which fell by 6,000. The average work week for all employees was unchanged at 34.5 hours; However, in manufacturing the work week increased by 0.1 hour to 40.9 hours. The average hourly earnings for all employees rose by 10 cents in June and has increased by 51 cents over the past year to $24.01.