Unemployment in USA
USA - Unemployment
Job gains exceed expectations in June
Total non-farm payrolls increased by 372,000 in June, down slightly from May’s 384,000 revised figure but above market expectations of 268,000. Employment gains were particularly strong in professional and business services, leisure and hospitality, and health care.
Meanwhile, the unemployment rate was unchanged at 3.6% in June, while hourly earnings were up 0.3% month-on-month and 5.1% year-on-year. All in all, the data shows the labor market remained robust in Q2 despite recession fears. However, employment growth is gradually trending down, firms are struggling to find staff and elevated inflation—which is currently tracking well above wage growth—is hurting purchasing power.
On the outlook, TD Economics’ Thomas Feltmate said:
“The pace of hiring remained exceptionally strong in June, surpassing even the most optimistic forecast. With the labor market having almost recovered all of the 22 million jobs lost during the early stages of the pandemic, and the core working age participation rate nearing its pre-pandemic level, job growth is bound to slow over the coming months.”
FocusEconomics panelists expect the unemployment rate to average 3.6% in 2022, which is unchanged from last month’s forecast, and 3.8% in 2023.
United States - Unemployment Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Unemployment Rate | 5.3 | 4.9 | 4.3 | 3.9 | 3.7 |
United States Unemployment Chart
United States Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.92 | -0.43 % | Dec 31 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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United States: Inflation comes in at highest level since 1981 in June
July 13, 2022
Consumer prices rose 1.32% in June over the previous month, picking up from May's 0.97% increase.
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United States: Job gains exceed expectations in June
July 8, 2022
Total non-farm payrolls increased by 372,000 in June, down slightly from May’s 384,000 revised figure but above market expectations of 268,000.
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United States: Consumer confidence falls in June to over one-year low
June 30, 2022
Consumer confidence fell to 98.7 in June from May's 103.2.
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