Unemployment Rate
3.6%
The unemployment rate rose 0.2 percentage points to 3.6% in June. Nonfarm payroll employment grew by 209,000 and average hourly earnings increased by 12 cents (0.4%) to $33.58. The labor force participation rate was unchanged for the fourth consecutive month at 62.6%.
Industries which experienced gains include government, health care and social assistance, and leisure and hospitality, while transportation and warehousing, and retail trade, declined.
Major Industry Employment
Notable Gains
- Health Care and Social Assistance: +65,200
- Government: +60,000
- Construction: +23,000
- Professional and Business Services: +21,000
- Leisure and Hospitality: +21,000
Other major industries saw little or no change in June, including oil and gas, manufacturing, and financial activities. The average workweek increased slightly by 0.1 hour to 34.4 hours, while the average work week in manufacturing was unchanged at 40.1 hours.
Read the full report at BLS.gov
Workforce and Economic News
Dollar Slips as US Job Growth Slows in June, Yen Jumps
Reuters — July 7, 2023
The dollar slumped after signs of a less resilient U.S. labor market reduced the outlook for how long the Federal Reserve will keep interest rates higher, while the yen surged on concerns the 10-year Treasury’s yield rose above 4%. Read more at Reuters.com.
U.S. and EU Complete Long-Awaited Deal on Sharing Data
The New York Times — July 10, 2023
A deal to ensure that data from Meta, Google, and scores of other companies continues to flow between the United States and the European Union was completed after the digital transfer of personal information between the two jurisdictions was thrown into doubt because of privacy concerns. Read more at NYTimes.com.
Where Now for Workplace Diversity After Court’s Affirmative Action Ruling?
The Guardian — July 2, 2023
Now that the Supreme Court has declared affirmative action policies in college and university admissions unconstitutional, questions are arising over whether the Court’s decision will affect diversity efforts in the workplace. Read more at TheGuardian.com.
America Employed
Insights from Express Employment Professionals
Eyeing Productivity, Jobseekers Want Control Over Their Schedules and Employers May Agree
ExpressPros.com — June 14, 2023
American jobseekers and companies may be rethinking the traditional 40-hour work week as long as productivity remains at, or exceeds, current levels. This is according to a recent survey from The Harris Poll commissioned by Express Employment Professionals.
When given the option of working an 8-hour workday (but flexible start time), traditional 9 a.m. to 5 p.m. or a compressed schedule such as 10 hours per day for 4 days a week, jobseekers most commonly pick an 8-hour day with a flexible start time (40%). Nearly 1 in 5 (18%) would prefer a compressed schedule. Read more at ExpressPros.com.
Tuning Out the Noise: What’s Distracting Workers and Efforts to Reclaim the Workday
ExpressPros.com — June 28, 2023
Barrages of meetings, emails, and online distractions eat away at workforce productivity, and the majority of U.S. employers say they are working to eliminate time wasters to help employees feel more in control of their time. This is according to a recent survey from The Harris Poll commissioned by Express Employment Professionals.
Nearly 7 in 10 U.S. hiring managers (68%) report their company is actively identifying and/or eliminating “time wasters” (i.e., behaviors, obligations, and other aspects that may waste time in a workday) from their employees’ days. Companies doing so report the most common items they are identifying/eliminating include disorganization (44%), online distractions (44%), unnecessary tasks (such as approval processes and reporting) (42%), interruptions (39%), and unnecessary meetings (38%). Read more at ExpressPros.com.
