The U.S. economy delivered another solid month of job growth in June, with employers adding 213,000 positions. In fact, June was the 93rd consecutive month of job creation, a new record.
Nearly 1.3 million jobs have been added since the beginning of the year, according to the most recent jobs report from the Bureau of Labor Statistics (BLS). This total reflects revised numbers from the agency for April and May, showing that employers added 37,000 more positions than previously reported. Over the past three months, job gains have averaged 211,000.
Professional and business services led June job growth
The BLS reported that employers in professional and business services helped fuel job creation last month, adding 50,000 positions. That industry has seen growth of 521,000 positions over the past year.
Other industries making significant contributions to job growth in June were:
- Manufacturing — Employers expanded their payrolls by 36,000 jobs. Over the past year, manufacturers have added 285,000 jobs.
- Healthcare — This industry created 25,000 positions last month. Employment in healthcare has increased by 309,000 in the last 12 months.
- Construction — Employment in the construction industry edged up by 13,000 jobs in June and has grown by 282,000 jobs in the past year.
Unemployment at 4.0 percent
After hitting an 18-year low of 3.8 percent in May, the unemployment rate ticked up to 4.0 percent in June. The rise in the unemployment rate was due to an increase in the labor-force participation rate, which nonetheless remains at a historically low level.
The unemployment rate for college-degreed workers who are 25 or older — the most sought-after professionals — also rose last month, to 2.3 percent. In May, the rate was 2.0 percent.
What employers need to know
Like most businesses, your firm is likely feeling the effects of summer. Employees are taking vacations, and the warm weather has pretty much everyone thinking more about lounging by the pool than staring at spreadsheets or marketing plans. But that doesn’t mean work can be pushed to the back burner. And if there are critical jobs to be filled, hiring must go on.
Engaging temporary staff is one way to keep your business humming. Interim professionals can cover staffing gaps while employees are out or while you conduct your search for a full-time hires.
Also, be careful not to let summer distract you from planning for the end-of-year work crunch. Now is the right time to assess your firm’s hiring needs for the rest of the year and align the resources you’ll need come fall.
What job seekers need to know
If you’ve just graduated from college, you might not need to wait long to secure a job offer. Unemployment is low not only for college grads but also in industries that typically require degreed-professionals, such as accounting, finance and information technology.
Candidates with on-the-job experience often have an edge in the job market. For many, that means an internship or part-time work during college. But those aren’t the only avenues for securing relevant experience. Temporary work is another great option.
Interim employment offers a way to earn in-demand skills and experience while building your professional network. And summer is an ideal season to explore this option, as businesses often need extra support while full-time team members are on vacation. You have the opportunity to shine a light on your abilities and, potentially, earn a full-time job offer.