This Week In The Economy: US Economy Added 206k Jobs In June

Welcome to a regular snapshot review of U.S. and international economic news that aims to 1) provide a window into the challenges and decisions facing businesses today, 2) determine the direction of economic policy — such as the speed at which central banks decide to raise interest rates, and 3) assess what the impact will be for consumers.

U.S. Economy Added 200k+ Jobs In June, Unemployment Ticks Up

The Bureau of Labor and Statistics reported this week that non-farm payrolls rose by 206,000 last month, while the unemployment rate went from 4% to 4.1%.

The change in total nonfarm payroll employment for April was revised down by 57,000, from +165,000 to +108,000, and the change for May was revised down by 54,000, from +272,000 to +218,000. With these revisions, employment in April and May combined is 111,000 lower than
previously reported.

The number of long-term unemployed (those jobless for 27 weeks or more) rose by 166,000 to 1.5 million in June. This measure is up from 1.1 million a year earlier. The labor force participation rate rose to 62.6% from 62.5% in May.