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
5 years of economic forecasts for more than 30 economic indicators.
United States Unemployment Chart
United States Facts
|Bond Yield||1.92||-0.43 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
July 25, 2022
The S&P Global Flash Composite Purchasing Managers' Index (PMI) dived to an over two-year low of 47.5 in July, from 52.3 in June.
July 15, 2022
Retail sales grew 1.0% in month-on-month seasonally-adjusted terms in June, which contrasted May's 0.1% decrease and beat market expectations for a 0.8% uptick.
July 13, 2022
Consumer prices rose 1.32% in June over the previous month, picking up from May's 0.97% increase.
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.
June 30, 2022
Consumer confidence fell to 98.7 in June from May's 103.2.