US Economy Adds 206K Jobs in June, Below Revised May Total
In June 2024, the US economy added 206K jobs,
somewhat less than May's revised total of 218K. This was higher than the 190K
projected, but lower than the corrected statistics for April, which was 272K.
April's statistics shows another 57K reduction, bringing the total down to
108K. As a result, cumulative employment in April and May is now 111K lower
than previously reported. In June, employment increased in government,
healthcare, social assistance, and construction. However, jobs were lost in
retail, manufacturing, and professional and business services. The labor market
remains strong, but there are signs that it is starting to decline. The average
monthly payroll growth in 2024 is 222,000, down from 251,000 in 2023.
Nonfarm payroll employment
over-the-month change, seasonally adjusted, June 2022 – June 2024
Source: US Bureau of Labor Statistics