By Tom Burnett CFA
On July 2, 2021, the Bureau Of Labor Statistics announced that net payrolls grew by 850,000 in the month of June. The figures for April and May were revised upward by a total of 15,000. The unemployment rate was unchanged at 5.9% and there were 9.5 million job seekers. Total employment now stands at 151.6 million, down from nearly 158 million in February 2020. At the bottom of the Covid-induced slowdown, employment was 133 million. Manufacturing employment is now down 480,000 from its February 2020 high level.
The next labor status report will be issued on August 6, 2021.
Tom Burnett CFA is Director of Research