07/06/18: The U.S. Department of Labor reported today that U.S. employers created 213,000 new jobs, on a seasonally-adjusted basis, during June, down from 244,000 during May.
According to the Department, 23% of all new jobs were created in the Professional and Business Services industry, while 17% of all new jobs were created in the manufacturing sector – in relatively high-paying industries.
Additionally, the Department reported that the United States’ unemployment rate rose to 4.0%, from 3.8% during the prior month, as the percentage of Americans who were seeking full-time employment – the labor participation rate – rose to 62.9%, from 62.7%.
On a negative note, the Department reported that both the average number of hours worked and the average number of overtime hours worked by manufacturing production employees were unchanged during June after declining considerably during May.
On average, the employment statistics mentioned above suggest that the U.S. economy will continue to expand at a healthy pace over at least the next few months.