Yahoo Finance anchors break down the numbers in the June jobs report.
- For the June jobs report, we're looking at 372,000 jobs added during the month of June. The unemployment rate remaining at 3.6%. And then, additionally, notable job gains occurring in professional and business services, leisure and hospitality, and health care.
The Bureau of Labor Statistics going on to say that within this, the unemployed persons was essentially unchanged at 5.9 million in June. A little different from their values in pre-pandemic times, February 2020. That is notable where we saw 3.5% and 5.7 million, respectively, for the unemployment and the unemployed persons.
And then among major worker groups as well. For some of the ethnicities that we're continuing to track, we saw the unemployment rate for Asian Americans increased to 3% during the month of June. Jobless rates for adult men came in at 3.3%, adult women 3.3%. But then you still have high unemployment rates, higher than average unemployment rates, among Black Americans at 5.8% and Hispanics at 5.3%.
But once again, just to remind and reiterate the rise of 372,000 jobs. That is above expectations for the month of June. And then the unemployment rate remaining unchanged here.
BRIAN SOZZI: We were just talking about the wages. [? Jerry, ?] you and I were talking about the wages, up 0.3%, looks to be in line. But look, I do wonder if this is now-- at least initially, you saw the futures ticked down lower on this report-- if this is the worst possible scenario. You get a red hot-- I would say a hot, better-than-expected jobs report. And this would likely only fuel the notion that the Fed might have to get a little more aggressive on rate hikes.
But I will note this, too, if you scroll down to the bottom of this report, you saw downward revisions for jobs for April and also May, overall a downward adjustment of 74,000 jobs. So I know the headline was hot but you do get the sense if you go back the prior two months, a little bit of a slowdown in the jobs market, nonetheless.