June Labor Report Recap
In the latest labor report from the Bureau of Labor Statistics, we’re seeing continued job growth, with 209,000 new jobs added in June 2023. Although this number shows a decrease in jobs added compared to June, there is still growth in the labor market. We see this with the unemployment rate moving in a positive direction, showing a slight decrease to 3.6% compared to last month’s 3.7%.
Healthcare alone added 41,000 new jobs in June. This number is similar to what we’ve seen throughout the year, with an average of 42,000 healthcare jobs added monthly.
Similarly, the government sector saw expansive growth in June, with 60,000 new jobs added. While this industry is showing growth, job levels remain below pre-pandemic (February 2020) levels by 161,000 roles.
Even though professional and business services didn’t have a significant increase in jobs this month, they managed to add 21,000 new jobs.
Despite the dip in new jobs added in June compared to other months, the BLS report outlines we’re still seeing growth in the labor market.
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Source: June 2023 Monthly Jobs Report, Bureau of Labor Statistics