Finance 0

Jobs +287,000 Employment +67,000 (Third Anemic Household Report)

By Kurt Osterberg · On July 8, 2016

Initial Reaction

Today’s employment report shows an amazing increase of 287,000 jobs. The BLS revised last month from 38,000 down to 11,000.

The household survey shows June employment rose by 67,000. In May, employment rose by a mere 26,000 and in April, employment declined by a whopping 316,000.

The unemployment rate rose 0.2 percentage points to 4.9% because the labor force rose by 414,000.

We have seen divergences between the household survey and the establishment survey before, but not three consecutive months, recently.

Let’s dive into the details in the BLS Employment Situation Summary, unofficially called the Jobs Report.

BLS Jobs Statistics at a Glance

Nonfarm Payroll: +287,000 – Establishment Survey

Employment: +67,000 – Household Survey

Unemployment: +347,000 – Household Survey

Involuntary Part-Time Work: -587,000 – Household Survey

Voluntary Part-Time Work: -101,000 – Household Survey

Baseline Unemployment Rate: +0.2 to 4.9% – Household Survey

U-6 unemployment: +0.0 to 9.7% – Household Survey

Civilian Non-institutional Population: +223,000

Civilian Labor Force: +414,000 – Household Survey

Not in Labor Force: -191,000 – Household Survey

Participation Rate: +0.1 to 62.7 – Household Survey

Employment Report Statement

Total nonfarm payroll employment increased by 287,000 in June, and the unemployment rate rose to 4.9 percent, the U.S. Bureau of Labor Statistics reported today. Job growth occurred in leisure and hospitality, health care and social assistance, and financial activities. Employment also increased in information, mostly reflecting the return of workers from a strike.

Unemployment Rate – Seasonally Adjusted

Nonfarm Employment Change from Previous Month

Nonfarm Employment Change from Previous Month by Job Type

Hours and Wages

Average weekly hours of all private employees was flat at 34.4 hours. Average weekly hours of all private service-providing employees was flat at 33.3 hours. Average weekly hours of manufacturers was flat at 40.7 hours.