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Labor Markets

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The 190,000 temporary census workers who were dropped from government payrolls contributed heavily to June’s lower-than-expected total nonfarm employment growth (only 11,000, the smallest increase since January 1996). On the other hand, private-sector employers added 206,000 workers, slightly higher than 2000’s year-to-date average monthly increase (177,000) and roughly equal to 1999’s average (202,000). Another measure, the employment-to-population ratio, rose 0.2% to 64.5%, though this is still lower than April’s record high of 64.9%. In addition, the unemployment rate fell slightly in June to 4.0%; it has fluctuated between 3.9% and 4.1% since October of last year.

Suggested citation: "Labor Markets," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-07, pp. 11, 07.01.2000.

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