Employment increased by 223,000 jobs in June. Professional and business services, healthcare, retail trade, financial activities, transportation and warehousing, plus food services and drinking places all saw increases in the month.
Professional and Business Services:
- As a whole, professional and business services increased by 64,000 jobs in June. Within this category, employment continued to trend up in these major categories:
- Temporary help services, which increased by 20,000 jobs.
- Architectural and engineering services, up by 4,000 jobs.
- Computer systems design and related services, which saw a 4,000 job increase.
- Added 40,000 jobs in June.
- Increased by 33,000 jobs in June, with general merchandise stores adding 10,000 of those jobs.
- Overall, financial activities increased by 20,000 jobs in June, with employment trending up in these categories:
- Insurance carriers and related activities increased by 9,000 jobs.
- Securities, commodity contracts, and investments increased by 7,000 jobs.
Transportation and Warehousing:
- Added 17,000 jobs in June, with employment in truck transportation being a major contributor at 7,000 additional jobs in the month.
Food Services and Drinking Places:
- Continued to trend up in June, increasing by 30,000 jobs.
The unemployment rate declined by 0.2 percentage point to 5.3% in June. The number of long-term unemployed (those jobless for 27 weeks or more) declined by 381,000 in June. The average workweek for employees was 34.5 hours in June for the fourth month in a row. Factory overtime was 3.4 hours.
Average hourly earnings in June were unchanged at $24.95. But there are signs that wages, which have remained stagnant for many during the 6-year economic recovery, may soon rise as employers are forced to offer higher wages to attract qualified employees. As these factors come into play, Nelson can help build a strategy for talent acquisition. Contact us today for assistance.