Feds: 209K New Jobs In June, 30th Month Of Gains

July 7, 2023 Economy, Employment

Employment growth eased in June, taking some steam out of what had been a stunningly strong labor market. But the gain was the 30th consecutive month of jobs gains.

Nonfarm payrolls increased 209,000 in June and the unemployment rate was 3.6%, the Labor Department reported Friday. That compared to the Dow Jones consensus estimates for growth of 240,000 and a jobless level of 3.6%.

The total, while still solid from a historical perspective, marked a considerable drop from May’s downwardly revised total of 306,000 and was the slowest month for job creation since payrolls fell by 268,000 in December 2020.

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Payrolls rose by 209,000 in June, less than expected, as jobs growth wobbles https://t.co/C6MEmLJQ0T

— CNBC (@CNBC) July 7, 2023

30th straight month of job growth. Unemployment falls. https://t.co/FimSnABIZi

— Tim Thornton (@burntfort) July 7, 2023