Today the US Bureau of Labor Statistics released the June Employment Situation report, revealing that total nonfarm employment rose by +209,000 on a seasonally adjusted basis, and that the sector with the largest gain was Health and social assistance, which added +65,200 jobs. The national unemployment rate fell to 3.6%, and the labor force participation rate remained unchanged at 62.6%.
Despite the weaker than expected number, the +209,000 jobs created is considered a solid posting by historical standards. The unemployment rate remains historically low and, following a large divergence between surveys in May, June saw surveys report similarly sized gains in employment.
The labor force participation rate has returned to levels not seen since the 2001 recession, and the temporary help services industry is maintaining a high plateau. Such a plateau implies continuing large opportunities for staffing firms with competitive advantages via technology and service offerings.
