Modesto Jobs Report

June 2019 Jobs Report

Jobs Added

Metro +1,100
  • Month Over Month: +0.6%
  • 3 Month Average: 933
  • Year Over Year: +0.7%
State +19,400
  • Month Over Month: +0.1%
  • 3 Month Average: 32,167
  • Year Over Year: +1.6%
National +224,000
  • Month Over Month: +0.1%
  • 3 Month Average: 170,667
  • Year Over Year: +1.5%

Unemployment Rate

Metro 5.6%
  • Month Over Month: -0.8%
  • 3 Month Average: 6.5%
  • Year Over Year: -0.4%
State 4.2%
  • Month Over Month: -0.1%
  • 3 Month Average: 4.27%
  • Year Over Year: 0.0%
National 3.7%
  • Month Over Month: +0.1%
  • 3 Month Average: 3.63%
  • Year Over Year: -0.3%

3 Things to Know About the National Jobs Report

The Bureau of Labor Statistics (BLS) reported the US unemployment rate was little changed at 3.7% in June. 224,000 jobs were added in June, far exceeding the predictions from economists for 170,000 job additions.

Regionally, the Bureau of Labor Statistics breaks down the state and metro unemployment rates one month behind the national breakdown. Those numbers will be released mid-month every month.

Here are 3 other things to know about June’s jobs report:

The Labor Force Participation Rate: The labor force participation rate only slightly increased in June, at 62.9%, while the employment population ratio sat at 60.6% for the fourth month in a row. It’s no wonder employers are struggling to find the workers they need, leaving some to reexamine everything from their benefits offerings, to the requirements they list for worker positions. Later this month, we’ll be releasing a study we conducted observing how some companies are gaining access to larger talent pools to offset the tight talent market. Stay tuned for more details.

Wage Growth Accelerating: In June, average hourly earnings rose by 6 cents, following a 9-cent gain from the previous month. It’s no secret that wages have lagged behind job growth amid a recovering economy, and a common question has been the following: When will many companies’ newfound financial health, compared to their compromised financial health during the recession, trickle down to their employees in the form of pay? It looks like the answer is now. Read The New York Times’ article “Why Wages Are Finally Rising, 10 Years After the Recession” for a detailed breakdown of U.S. wage growth.

Job Market Cooling: Even with the healthy job market growth from June, there are signs that the job market is cooling. The monthly average of 171,000 job postings in the last three months is far from the 223,000 job postings per month for all of 2018. With the future uncertain, it makes sense to extend generous offers in order to hire quality talent when you do find it, focus on keeping skills up to date, and prioritize internal professional development.

 

Local Industry Job Growth from the B.L.S.

Finance & Insurance 0
  • From Last Month: 0.0%
  • 3 Month Average: 540
  • From Last Year: -0.8%
Telecommunications +200
  • From Last Month: +0.3%
  • 3 Month Average: 67
  • From Last Year: -6.7%
Accommodation & Food Services +5,700
  • From Last Month: +0.3%
  • 3 Month Average: 1,701
  • From Last Year: +2.3%
Manufacturing +300
  • From Last Month: +1.6%
  • 3 Month Average: 19
  • From Last Year: -6.2%
Retail Trade +400
  • From Last Month: +1.7%
  • 3 Month Average: 23
  • From Last Year: +0.9%
Transportation & Warehousing +4,100
  • From Last Month: +0.7%
  • 3 Month Average: 608
  • From Last Year: +2.5%
Air Transportation +200
  • From Last Month: +0.3%
  • 3 Month Average: 58
  • From Last Year: +4.1%
Chemical Manufacturing +500
  • From Last Month: +0.6%
  • 3 Month Average: 84
  • From Last Year: +5.3%
Goods Producing +500
  • From Last Month: +1.7%
  • 3 Month Average: 30
  • From Last Year: -3.2%
Hospitals -400
  • From Last Month: -0.1%
  • 3 Month Average: 407
  • From Last Year: +1.5%
Computer & Electronic Product Manufacturing -100
  • From Last Month: 0.0%
  • 3 Month Average: 289
  • From Last Year: +3.6%

U.S. Job Growth for All Sectors

Local Job Reports

BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.