NATIONAL REPORT—U.S. job growth is improving as companies added 213,000 in June, and the unemployment rate rose to 4%, according to the U.S. Bureau of Labor Statistics. Gains were seen in professional and business services, manufacturing, and healthcare, while retail trade lost jobs.
The unemployment rate inched up 0.2 percentage point to 4% in June, and the number of unemployed persons increased by 499,000 to 6.6 million. A year earlier, the jobless rate was 4.3%, and the number of unemployed persons was 7 million.
In June, the civilian labor force grew by 601,000. The labor force participation rate edged up by 0.2 percentage point over the month to 62.9% but has shown no clear trend thus far this year.
Among the major worker groups, the unemployment rates for adult men (3.7%), adult women (3.7%), and Asians (3.2%) increased in June. The jobless rate for teenagers (12.6%), Whites (3.5%), Blacks (6.5%), and Hispanics (4.6%) showed little or no change over the month.
Among the unemployed, the number of people who lost jobs and those who completed temporary jobs increased by 211,000 in June to 3.1 million, and the number of re-entrants to the labor force rose by 204,000 to 2.1 million.
While the news may be good for the economy, the U.S. unemployment rate has caused a labor shortage for industries across the country, and hospitality is definitely feeling the crunch. For more, read what industry analysts had to say about the labor market.