Written By ESR News Blog Editor Thomas Ahearn
The U.S. economy rebounded nicely after a disappointing May – when only 11,000 jobs were added – by gaining 287,000 jobs in June, according to ‘THE EMPLOYMENT SITUATION — JUNE 2016’ released by the U.S. Department of Labor’s Bureau of Labor Statistics.
The June 2016 employment situation report revealed that the unemployment rate increased by 0.2 percentage point to 4.9 percent and the number of unemployed persons increased by 347,000 to 7.8 million during the month. Job growth occurred in the following major industries in June:
- Leisure and hospitality employment – 59,000 jobs added.
- Information employment – 44,000 jobs added.
- Health care employment – 39,000 jobs added.
- Professional and business services employment – 38,000 jobs added.
- Retail trade employment – 30,000 jobs added.
- Financial activities employment – 16,000 jobs added.
On the negative side, mining employment continued to trend down in June with 6,000 jobs lost. Employment in other major industries such as construction, manufacturing, wholesale trade, transportation and warehousing, and government, showed little or no change in June.
The change in employment for April was revised from 123,000 jobs added to 144,000 jobs added while the change for May was revised from 38,000 jobs added to 11,000 jobs added. With these revisions, employment gains in April and May combined were 6,000 jobs less than previously reported.
The ‘THE EMPLOYMENT SITUATION’ is usually released on the first Friday of every month. The Employment Situation for July 2016 is scheduled to be released on August 5, 2016. Until then, the current jobs report is available at www.bls.gov/news.release/empsit.nr0.htm.
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