U.S. added 209,000 jobs in June in thirtieth consecutive month of growth

The U.S. economy added 209,000 jobs in June, down from the 305,000 added in May. The increase is the thirtieth consecutive month of job growth, but is the lowest amount since the start of that streak in January 2021. 

While the Federal Reserve opted to pause interest rate increases at last month’s meetings, they have signaled that they may resume rate increases as soon as this month, and the continuing robust job numbers may lead to the decision to increase rates sooner rather than later.

Notably, in June, the employment-to-population ratio among Americans ages 25 to 54 reached 80.9%, the highest rate in over 20 years, nearing the all-time high of 81.9% from April 2000. Women contributed to that rate, with increasing numbers of women ages 25-54 joining the workforce each month since November, bringing the employment-to-population ratio for that group to an all-time high of 74.8% in the first quarter of 2023. 

Here’s your roundup of key insights from the report:

• Wall Street Journal: “Hiring slowed in June but wages rose and unemployment fell, likely keeping the Federal Reserve on track to raise interest rates later this month to combat inflation.”

• New York Times: “The resilience of the job market has bolstered hopes that inflation can be brought under control while the economy continues to grow.”

• Washington Post: “Despite some cooling, a hardy labor market has helped prop up the broader economy, even as the Fed has taken aggressive action to slow things down.”

• Bloomberg: “The underemployment rate, a broader measure of labor-market slack than the headline unemployment rate, is at its highest level in almost a year as more Americans report working part-time for economic reasons.”

On Snagajob, job postings are flat month over month. Notable gains were seen in the Construction (+19%), Education (+17%), and Healthcare (+12%) industries.

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Hourly Jobs

All industry data is from 3/2/20-6/30/2023

Here are the latest overall job numbers:

Overall hourly jobs are up 57% from February 2020's pre-pandemic numbers, they are flat month over month.

Here are the latest job numbers by industry and category:

Food & Restaurant jobs are down 12% compared to pre-pandemic norms, seeing a 12% month-over-month decline, and a 72% year-over-year decline.

Hotel & Hospitality jobs are down 56% compared to pre-pandemic norms, seeing a 19% month-over-month drop, and a 72% year-over-year decline.

Healthcare jobs are up 304% compared to pre-pandemic norms, seeing a 12% month-over-month increase, and a 37% year-over-year growth.

Retail jobs are down 40% compared to pre-pandemic norms, seeing a 8% month-over-month drop, and a 58% year-over-year decline.

Warehouse & Logistics jobs are up 214% compared to pre-pandemic norms, seeing an 8% month-over-month decline, and a 78% year-over-year decline.

Shifts by Snagajob requested shifts are up 7% compared to pre-pandemic norms. Fill rates are showing a 3% month-over-month increase.