The Bureau of Labor Statistics (BLS) reports that U.S. employers expanded payrolls by 206,000 jobs last month. That figure is above economists’ projections of between 190,000 and 200,000 jobs.The June jobs report also notes that employers in the United States added 110,000 fewer jobs than previously reported for April and May combined.
The private education and health services industry led job creation in June with employers adding 82,000 jobs. Government employers also expanded payrolls last month, adding 70,000 positions.The BLS reports that these industries saw job gains in June as well:Construction: 27,000 jobs addedWholesale trade: 14,200 jobs addedFinancial activities: 9,000 jobs addedTransportation and warehousing: 7,300 jobs addedLeisure and hospitality: 7,000 jobs addedInformation: 6,000 jobs addedIndustries that reported job losses last month include manufacturing, retail trade, and professional and business services.
The national unemployment rate in June was 4.1%, up from 4.0% in May.The unemployment rate for college-degreed workers who are 25 or older — the professionals most highly sought-after by many employers — also increased last month to 2.4%. In May, the rate was 2.1%.Meanwhile, separate data from the BLS shows how the unemployment for many in-demand roles are trending well below the national rate. Examples include:*Copywriters: 2.1%Graphic designers: 2.1%Accountants and auditors: 1.9%Office and administrative support supervisors: 1.8%Human resources managers: 1.7%Financial and investment analysts: 1.5%Training and development specialists: 1.3%Lawyers: 1.0%Security analysts: 0.9%Network and systems administrators: 0.6%Information and records clerks: 0.5%*Percentages reflect unemployment rates for select positions that were near or below the national unemployment rate of 3.8% at the end of March 2024. Current Population Statistics report, BLS, April 5, 2024.
A separate report released this week by the BLS — the Job Openings and Labor Turnover Summary — underscores employers’ ongoing challenges to locate candidates with the requisite skills to staff open roles in their organizations. The number of job openings in the U.S. at the end of May was 8.1 million, essentially unchanged from April.One contributor to the shortage of skilled talent is the “Big Stay.” Many workers made career moves during the Great Resignation to pursue a higher salary, more work flexibility or a senior job title. But now, more employees are feeling content in their current role — and opting to stay put.In a Robert Half survey, 35% of U.S. workers said they plan to look for a new job in the second half of this year, down from 49% in July 2023 and 36% in February 2024.See our infographic showing U.S. workers’ job search plans over time.While that’s good news for employers that have been struggling to retain valued talent in recent years, they will need to keep a close eye on whether their workers continue to feel satisfied. A red flag that could signal trouble: Employee burnout levels are on the rise.In a Robert Half survey, U.S. workers were asked to rate their burnout level on a scale of 1-10, and more than one-third (34%) reported a 7 or higher. Notably, workers in the Generation Z and millennial demographic groups reported the highest levels of burnout.The top factors contributing to burnout in the workplace? According to our research, they are:Heavy workloads: 56%Lack of communication and managerial support: 41%Poor organizational culture: 41%Need help hiring to staff critical roles and ease the burden on your core teams? Contact us.
Read the latest issue of Robert Half’s Demand for Skilled Talent report to get details on in-demand positions for several top industries including finance and accounting, technology, marketing and creative, legal, and administrative and customer support. Learn about U.S. employers’ hiring plans and challenges, common hiring mistakes and how to avoid them, and the importance of addressing skill gaps sooner than later.Access the Demand for Skilled Talent report now on the Robert Half website.
The 2024 Salary Guide From Robert Half features exclusive data and input from employers and workers, and from our recruiters who staff tens of thousands of jobs each year.Our guide is designed to be a go-to resource on the latest hiring and compensation trends for both employers and job seekers. And you can view it right now, for free, on the Robert Half website.Read the 2024 Salary Guide
