ACTV - The June Jobs Report: Sounding The Alarm
2024-07-05 12:29:01 ET
Summary
- The June jobs report shows a weakening labor market with a rising unemployment rate and slowing job growth.
- Initial jobless claims and continuing claims are at or near one-year highs, indicating increased layoffs.
- Unemployment among college-educated workers and older workers rising, potentially signaling broader labor market weakness.
Introduction
Earlier today, the Bureau of Labor Statistics released the June employment situation report showing that the US economy had created 206,000 jobs last month. In addition to the downward revision of more than 100,000 jobs for April and May combined, the unemployment rate ticked up to 4.1%. While the pace of job growth is certainly slowing and the unemployment rate is rising, there are a couple of major red flags showing further and immediate weakness may be coming to the labor market....
The June Jobs Report: Sounding The Alarm