U.S. Nonfarm Payroll Increases by 206,000 in June 2024 – Unemployment Rises to 4.1%

The U.S. Bureau of Labor Statistics (BLS) reported on Friday (6-07-24), that total nonfarm payroll employment increased by 206,000 in June. This is similar to the average monthly gain of 220,000 over the prior 12 months.

The BLS is reporting that in June job growth was once again widespread, with notable growth occurring in:

  • Government employment rose by 70,000 in June, higher than the average monthly gain of 49,000 over
  • In June health care added 49,000 jobs, lower than the average monthly gain of 64,000 over the prior 12 months.
  • Employment in social assistance increased by 34,000 in June. Over the prior 12 months, social assistance had added an average of 22,000 jobs per month.
  • Construction added 27,000 jobs in June, higher than the average monthly gain of 20,000 over the prior 12 months.

In June, the BLS reported employment showed little change over the month in other major industries, including mining, quarrying, and oil and gas extraction; manufacturing; wholesale trade; transportation and warehousing; information; financial activities; leisure and hospitality; and other services.

The unemployment rate increased to 4.1% in June up from 4.0% reported in May. The number of unemployed people increased from 6.6 million in May to 6.8 million in June. A year earlier (Jun. 23), the jobless rate was 3.6% and the number of unemployed people was 6.0 million

The BLS notes that monthly revisions result from additional reports received from businesses and government agencies since the last published estimate and from recalculations of seasonal factors. 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.

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