The June 2023 Jobs Report shows the unemployment rate ticked down slightly to 3.6% from 3.7% the month prior. According to the most recent report released by the Bureau of Labor Statistics (BLS), payroll employment increased by 209,000 and the number of unemployed people is at 6.0 million.
Unemployment in June 2023 is the same as in June 2022 at 3.6%
The unemployment rate for college-degreed professionals 25 years and older declined slightly from 2.1% in May to 2.0% in June. Job seekers with some college or associate degree saw a decrease in unemployment from 3.2% in May to 3.1% in June.
Government, health care, social assistance, and construction saw notable gains.
Jobs added by industry:
- Government: 60,000 jobs added
- Healthcare: 41,000 jobs added
- Social Assistance: 24,000 jobs added
- Construction: 23,000 jobs added
- Professional and Business Services: 21,000 jobs added
- Leisure and Hospitality: 21,000 jobs added
Wage growth rose by 12 cents in June 2023
According to the report, average hourly earnings for all employees on private nonfarm payrolls rose by 12 cents or 0.4% to $33.58. Over the past 12 months, average hourly earnings have increased by 4.4%.
30% of U.S. employees are part of the “hybrid” workforce and 62% of workers say they are more productive while working remotely.
With the ever-changing labor market, how can businesses efficiently manage their workplace and boost employee satisfaction? Our 2023 Mid-Year Market Report includes a snapshot of workplace trends, national and local employment trends, and more designed to keep you informed and ready for success. Contact the team nearest to you today to connect.
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