Private Sector Jobs Increase in June for the 6th Month; First Time in Almost 3 Years, Since 2007
Some highlights of today's employment report:
1. The jobless rate fell to 9.5%, the lowest rate since June 2009.
2. Private-sector jobs have increased in each month this year, and by 83,000 in June, bringing the total to 593,000 private-sector jobs that have been created since December 2009. This is the first time in almost three years of six consecutive monthly gains in private-sector employment (see top chart above).
3. Manufacturing employment has also increased for six consecutive months, for a total increase of 136,000 new jobs this year, and by 9,000 in June (see middle chart above).
4. Temporary employment increased in June by 20,500, marking the ninth month in a row of job gains for temporary help services, and bringing the total gain in this sector to 378,900 since the bottom last fall (see bottom chart above).
5. Average overtime hours for manufacturing declined slightly in June to 3.8 hours, possibly because the 136,000 new jobs added this year reduce the need for overtime hours.