Nonfarm Payrolls Disappoints, Only 18,000 Gains in June
Friday, July 08, 2021 9:05 AM



In June, the US economy added just 18,000 jobs, well below the economists' estimate of 125,000 gains, and the unemployment rate was little changed at 9.2 percent, compared to 9.1 percent in May, the US Bureau of Labor Statistics reported today.

The report said, employment in major private sector changed marginally, while government’s employment continued its downward trend in June.

Employment in the government was down 39,000 in June. Federal employment declined by 14,000 in June. Employment in both state government and local government continued to trend down over the month and has been falling since the second half of 2008.

The average workweek for all employees on private non-farm payrolls decreased 0.1 hour to 34.3 hours in June. While the average hourly earnings for all employees decreased by 1 percent to $22.99 in June. Over the past 12 months, average hourly earnings have increased by 1.9 percent.

Job gains for April were revised to 217,000 from 232,000 estimated earlier, and for May it was revised from 54,000 gains to 25,000 gains. Employment rose by an average of 215,000 per month from February through April but now has only averaged 22,000 over the past two months.


 

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