Widget Image
Follow PPD Social Media
Connect With PPD
Thursday, July 18, 2019
HomeNewsEconomyJobs Report: U.S. Economy Adds 224K Jobs in June, Beating Forecast

Jobs Report: U.S. Economy Adds 224K Jobs in June, Beating Forecast

Series with themes reflecting a certain billionaire politician who won the 2016 presidential election touting a very strong labor market. (Photo: AdobeStock)

Wages Continued to Exceed 3% for 11th Straight Month

Series with themes reflecting a certain billionaire politician who won the 2016 presidential election touting a very strong labor market. (Photo: AdobeStock)
Series with themes reflecting a certain billionaire politician who won the 2016 presidential election touting a very strong labor market. (Photo: AdobeStock)

The U.S. economy added 224,000 jobs, the unemployment rate ticked higher to 3.7% and wages rose solidly, according to the jobs report for June. The unemployment rate for Asian Americans fell to a new record low at 2.1%.


Employment Situation (June)PriorConsensusConsensus RangeResult
Nonfarm Payrolls – M/M ∆75,000 165,000 135,000  to 205,000224,000
Unemployment – Rate3.6%3.6%3.5% to 3.8%3.7%
Private Payrolls – M/M ∆90,000 149,000 135,000  to 180,000 191,000
Manufacturing Payrolls – M/M ∆3,000 2,000 -2,000  to 6,000 17,000
Labor Force Participation – Rate62.8%62.8%62.7% to 63.0%62.9%
Average Hourly Earnings – M/M ∆0.2%0.3%0.2% to 0.4%0.2%
Average Hourly Earnings – Y/Y ∆3.1%3.2%3.1% to 3.3%3.1%
Average Workweek – All34.4 hrs34.5 hrs34.4 hrs to 34.5 hrs34.4 hrs

The labor force participation rate (chart) ticked slightly higher from 62.8% to 62.9%, while the employment-population ratio was 60.6% for the fourth month in a row.

Manufacturing employment kicked back into gear, gaining +17,000 . in June after 4 months of little change. Manufacturing employment has averaged 8,000 per month, compared with an average of 22,000 in 2018.

Construction employment continued a solid upward trend, adding 21,000 in June. That’s on par with the average monthly gain over the prior 12 months.

In June, wages, or average hourly earnings (AHEs), for all employees on private nonfarm payrolls rose by 6 cents to $27.90. That’s after a 9-cent gain in May.

Over the past 12 months, average hourly earnings (chart) have increased by 3.1%. Wage growth has exceeded 3% for the 11th straight month.

Average hourly earnings of private-sector production and nonsupervisory employees increased by 4 cents to $23.43 in June.

You Might Also Like

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Latest comment

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.