United States

U.S. labor market: Few fireworks in robust June jobs report


Download report

Attempts by businesses to dig deeper into the labor market to recruit full-time workers was on display during the month of June as an additional 601,000 individuals entered the labor force. This sent the unemployment rate up to 4 percent (4.048 percent) and the labor force participation rate higher (62.9 percent from 62.7 percent). From a purely economics point of view, these are precisely the conditions where one wants to see an increase in the unemployment rate. With 213,000 new jobs added, this is clearly a robust labor market. Moreover, given the increase in overtime and aggregate hours worked, it is apparent that there is a strong foundation for positive consumer sentiment and a strong spending environment.

From a monetary policy standpoint, there is nothing in the June labor report that indicates the Federal Reserve will alter the course and businesses and investors should prepare for a 25 basis point hike in September and an additional 25 basis point increase in December.

Wealth Management Services Disclosure


How can we help you?

To discuss how our team can help your business, contact us by phone 800.274.3978 or