![]() New jobs surpassed the forecasts of most employment analysts in June, adding 372,000 workers to the nation’s payrolls, according to the latest Bureau of Labor Statistics report. In a statement, William Beach, commission of the BLS, remarked that “notable gains occurred in professional and business services, leisure and hospitality, and health care.” The nation’s unemployment rate at 3.6%, meanwhile, was unchanged from May. The category of unemployed workers classified as “discouraged,” which is often higher that the overall unemployment rate, dropped from 7.1% in May to 6.7% last month. The construction industry saw a gain of 13,000 new workers in June, contributing to a total of 7.6 million. Nonresidential construction firms were up by an additional 16,600 employees, with 11,400 listed as nonresidential specialty trade contractors, and 4,500 new heavy and civil engineering workers. Ken Simonson, chief economist with the Associated General Contractors of America, noted that “although nonresidential contractors were able to add employees in June, the industry needs more as demand for projects is outpacing the supply of workers.” In a statement, Simonson added: “With industry employment at a record low for June and openings at an all-time high for May, it is clear contractors can’t fill all the positions they would like to.” The transportation and warehouse sectors saw an increase of more than 36,000 new workers; with manufacturing up by 29,000, and information technology employment seeing a 25,000 gain. The latest numbers, said the New York Times, point to a “hotter-than-expected labor market,” with the private sector now having regained most of its jobs lost as a result of the Covid 19 outbreak. Said the Wall Street Journal: “Employers continued to snap up workers in June—though at a slower pace than earlier in the year.” In a statement from the White House, President Biden cautioned that “having added a record number of new jobs, and achieved historically low levels of unemployment, additional job growth from this strong position will be slower.” The President added: “That is not a bad thing, because our economy should move to stable growth for the years ahead.” By Garry Boulard
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