The U.S. unemployment rate rose 4.1 percent in June

Kathmandu, US employers added 260,000 jobs in June. The unemployment rate increased by 4.1 percent. This indicates that the labor market is beginning to slow. According to the U.S. Department of Labor’s Bureau of Labor Statistics, jobs in government, health care, social assistance and manufacturing rose during the month.
Total nonfarm payroll employment rose by 26,000 in June, below the average monthly gain of 220,000 in the previous 12 months. The change in total non-farm payroll employment for April was revised up by 57,000 to a gain of 1.18 million.

May’s change was revised up by 54 thousand to a gain of 2 lakh 18 thousand. With these revisions, employment in April and May is 111,000 less than previously reported. The U.S. labor market has shown unexpected strength, even as the Federal Reserve kept benchmark interest rates in the 5.25 to 5.5 percent range. In February, the unemployment rate rose to 3.9 percent.

That is a two-year high. In March, it reached 3.8 percent. The unemployment rate rose again to 3.9 percent in April, and was 4.0 percent in May. The latest measure of 4.1 percent is higher than a year ago. When the unemployment rate was 3.6%. In June, average hourly earnings for all employees on private non-farm payrolls increased 10 cents, or 0.3 percent, to $35.

Over the past 12 months, average hourly earnings rose 3.9 percent. The monthly employment report was released two days after Automatic Data Processing (ADP) reported that the US private sector added 150,000 jobs in June. That’s the smallest increase in five months, according to MarketWatch.