June Jobs Report Department of Labor (DOL)

Jobs are updating and the market is shifting creating additional pressure on labor. You may want to keep up-to-date on the June jobs report. Here are the highlights....

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  "Total nonfarm payroll employment rose by 850,000 in June, and the unemployment rate was little changed at 5.9 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, public and private education, professional and business services, retail trade, and other services."

There was an increase of 164,000 of people who left their job. That is interesting because it means they have confidence they will find another job quickly. Market transition, depending on the new types of jobs they get, can be helpful in creating flow from low skilled jobs to higher ones through natural market driven labor movement. 

For those in the U.P. we might want to keep in mind mining and manufacturing because it puts pressure on developing our own industries here.... 

• "Employment in mining rose by 10,000 in June, reflecting a gain in support activities for mining. Mining employment is down by 110,000 since a peak in January 2019. 
• Employment in manufacturing changed little in June (+15,000). Within the industry, job gains in furniture and related products (+9,000), fabricated metal products (+6,000), and primary metals (+3,000) were partially offset by a loss in motor vehicles and parts (-12,000). Employment in manufacturing is down by 481,000 from its level in February 2020.
• Employment in transportation and warehousing was little changed in June (+11,000). Employment gains in warehousing and storage (+14,000), air transportation (+8,000), and truck transportation (+6,000) were partially offset by a loss in couriers and messengers (-24,000). Since February 2020, employment in transportation and warehousing is down by 94,000. 
• Construction employment changed little in June (-7,000). Over-the-month job losses in nonresidential specialty trade contractors (-15,000) and heavy and civil engineering construction (-11,000) were partially offset by a gain in residential specialty trade contractors (+13,000). Employment in construction is 238,000 lower than in February 2020.