US Economy Adds 223K Jobs In June


Total nonfarm payroll employment increased by 223,000 in June, down from a revised 262,000 in May and below market expectations. The unemployment rate declined to 5.3 percent from 5.5 percent a month earlier.

Job gains occurred in professional and business services, health care, retail trade, financial activities, and in transportation and warehousing. 

The change in total nonfarm payroll employment for April was revised from +221,000 to +187,000, and the change for May was revised from +280,000 to +254,000. With these revisions, employment gains in April and May combined were 60,000 lower than previously reported. Over the past 3 months, job gains have averaged 221,000 per month.

Employment in professional and business services increased by 64,000 in June, about in line with the average monthly gain of 57,000 over the prior 12 months. In June,  employment continued to trend up in temporary help services (+20,000), in architectural  and engineering services (+4,000), and in computer systems design and related services (+4,000).

Health care added 40,000 jobs in June. Job gains were distributed among the three component industries--ambulatory care services (+23,000), hospitals (+11,000), and nursing and residential care facilities (+7,000). Employment in health care had grown by an average of 34,000 per month over the prior 12 months.

Employment in retail trade increased by 33,000 in June and has risen by 300,000 over the year. In June, general merchandise stores added 10,000 jobs.

In June, employment in financial activities increased by 20,000, with most of the increase in insurance carriers and related activities (+9,000) and in securities, commodity contracts, and investments (+7,000). Commercial banking employment declined by 6,000. Employment in financial activities has grown by 159,000 over the year, with insurance accounting for about half of the gain.

Transportation and warehousing added 17,000 jobs in June. Employment in truck transportation continued to trend up over the month (+7,000) and has increased by 19,000 over the past 3 months.

Employment in food services and drinking places continued to trend up in June (+30,000) and has increased by 355,000 over the year.

Employment in mining continued to trend down in June (-4,000). Since a recent high in December 2014, employment in mining has declined by 71,000, with losses concentrated in support activities for mining.

Employment in other major industries, including construction, manufacturing, wholesale trade, information, and government, showed little or no change over the month.


US Economy Adds 223K Jobs In June


US Bureau of Labor Statistics | anna@tradingeconomics.com
7/2/2015 1:42:46 PM