Equitable Growth’s Jobs Day Graphs: June 2023 Report Edition
On July 7th, the U.S. Bureau of Labor Statistics released new data on the U.S. labor market during the month of June. Below are five graphs compiled by Equitable Growth staff highlighting important trends in the data.
The employment-rate for prime-age workers rose to 80.9 percent in June, it’s highest rate in more than two decades. The U.S. labor market added 209,000 jobs last month.
The national unemployment rate fell to 3.6 percent in June, with a decrease for White workers (3.1). Asian American workers (3.2), Black workers (6.0), and Latino workers (4.3) all experienced an uptick in their unemployment rate.
The U.S. economy experienced net employment losses in a few sectors, including retail and transportation and warehousing. Yet those losses were offset by important gains in industries such as construction, and the private education and health services sector, the latter of which added 73,000 jobs last month.
Year-over-year nominal wage growth (not accounting for inflation) remained unchanged in June, with average hourly earnings growth at 4.4 percent over the past 12 months.
The U.S. public sector added 60,000 jobs last month. Unlike the private sector, however, public-sector employment has yet to fully recover from the COVID-19 recession.