Last week, the U.S. Bureau of Labor Statistics reported that nonfarm payroll employment increased by 224 thousand in the month of June. This is up from the average of 172 thousand jobs added each month this year. The unemployment rate was little changed, and so was the labor force participation rate.
The industry that added the most jobs was professional and business services at 51 thousand jobs. Other notable gains were seen in healthcare and transportation/warehousing at 35 thousand jobs and 24 thousand jobs, respectively. No industries showed a decrease in employment in June.
Average hourly earnings for all private payroll employees went up by 6 cents in June, while the average length of the workweek was little changed.