June’s labor market holds steady for the summer

The US added 206,000 jobs in June. This slightly higher than expected growth is another sign of a calming labor market.
In May, the unemployment rate rose to 4.0% for the first time in 27 months, but in June, the unemployment increased again to 4.1%.
• Labor force participation rate rose to 62.6% from 62.5% in May
• The standout industry for June was government hiring with 70,000 jobs added
• Healthcare (49,000) and social assistance (34,000) also posted strong numbers last month
• Average hourly earnings rose 0.3%

How will this impact the later-half of the year?

Q3 just began, and the labor market is still defying experts’ predictions.
That uncertainty is making it increasingly difficult to plan for the summer, let alone holiday season.
It might seem a way off, but now is the time to start prepping for your peak hiring. Reach out to Adecco today, and we can discuss how to best plan.
Each of our clients has unique needs, but we’re pros at developing unique solutions. We’ve partnered with clients to reimagine shift schedules, provide a 32-hour guarantee, and bolster an onboarding program to reduce week-one turnover.
Don’t wait to be ready for what 2024 still has in store.