US Jobless Rate Unexpectedly Rises to 3.7%

The US unemployment rate rose to 3.7 percent in June 2019 from a 49-year low of 3.6 percent in the previous month and above market expectations of 3.6 percent. The number of unemployed increased by 87 thousand to 6.0 million while employment went up by 247 thousand to 157.0 million.
BLS | Stefanie Moya | 7/5/2019 12:39:06 PM
Among the major worker groups, the unemployment rates for adult men (3.3 percent), adult women (3.3 percent), teenagers (12.7 percent), Whites (3.3 percent), Blacks (6.0 percent), Asians (2.1 percent), and Hispanics (4.3 percent) showed little or no change in June.

In June, the number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 1.4 million in June and accounted for 23.7 percent of the unemployed. 

The labor force participation rate, at 62.9 percent, was little changed over the month and unchanged over the year. In June, the employment-population ratio was 60.6 percent for the fourth month in a row. 

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was essentially unchanged at 4.3 million in June. These individuals, who would have preferred full- time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs.

There were 1.6 million persons were marginally attached to the labor force, little different from a year earlier. (Data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally attached, there were 425,000 discouraged workers in June, little changed from a year earlier. (Data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.1 million persons marginally attached to the labor force in June had not searched for work for reasons such as school attendance or family responsibilities.

US Jobless Rate Unexpectedly Rises to 3.7%