by Calculated Risk on 7/05/2024 09:14:00 AM

The headline jobs number in the June employment report was above expectations, however April and May payrolls were revised down by 111,000 combined.   The participation rate increased, the employment population ratio was unchanged, and the unemployment rate increased to 4.1%.

Construction employment increased 27 thousand and is now 630 thousand above the pre-pandemic level. 
Manufacturing employment decreased 8 thousand and is now 170 thousand above the pre-pandemic level.
Earlier: June Employment Report: 206 thousand Jobs, 4.1% Unemployment Rate
Prime (25 to 54 Years Old) Participation

Since the overall participation rate is impacted by both cyclical (recession) and demographic (aging population, younger people staying in school) reasons, here is the employment-population ratio for the key working age group: 25 to 54 years old.

The 25 to 54 years old participation rate increased in June to 83.7% from 83.6% in May to the highest level since 2001.

The 25 to

Keep reading this article on Bill McBride - Calculedriskblog.

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