June US Jobs Report: 206,000 Rise In Payrolls, but Revisions Show Slower Growth

The US economy added 206,000 jobs in June, according to the latest report from the Bureau of Labor Statistics, an above-forecast rise in hiring. However, substantial revisions to May and April’s job gains showed a softer trend for hiring growth.

The government’s report revised down previous estimates for new job creation in May and April. The unemployment rate, which had been forecast to stay at 4.0% from May to June, instead ticked up to 4.1%. According to FactSet’s consensus estimate, the economy had been expected to have added 190,000 jobs in June, from an originally reported 272,000 in May. In addition, April’s increase in hiring was revised down to 108,000 from 165,000. With the revisions, the June employment report showed a slowing of the three-month moving average for hiring.

June Jobs Report Key Stats

• Total nonfarm payrolls rose by 206,000 versus a downward-revised 218,000 in May.
• The unemployment rate rose to 4.1% from 4.0% in May.
• Average hourly wages increased by 0.3% to $35 after rising 0.4% in May.

In June, average hourly wages rose by 10 cents, or 0.3%, to $35. Over the past 12 months, average hourly earnings have risen 3.9%.

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.3 hours in June. For manufacturing employees, the average workweek grew to 40.3 hours, and overtime was unchanged at 2.9 hours. For production and nonsupervisory employees, the average workweek increased to 34.1 hours from 33.6 the prior month.