The Bureau of Labor Statistics reports the U.S. economy added a healthy 206,000 new jobs in June marking the 42nd consecutive month of job growth. Economists had expected to see that number closer to 190K. The unemployment rate ticked up one-tenth of a point to 4.1 percent, up from 4 percent.
Payroll employment increases by 206,000 in June; unemployment rate changes little at 4.1% https://t.co/ZwrVfLviqL #JobsReport #BLSdata
— BLS-Labor Statistics (@BLS_gov) July 5, 2024
Since the beginning of the Biden administration, 15.7 million new jobs – an average of 383,000 per month – have been added to the economy. While we usually don’t want to see unemployment rates going up, by my thinking, the .1 figure isn’t a big deal. You couple that will the jobs added and the Fed might finally make a move to cut interest rates in September which WOULD have a big impact on the economy from new mortgages to credit card debt. Average hourly earnings for all employees on private nonfarm payrolls increased to $35.00 in June. Over the past 12 months, average hourly earnings have increased by 3.9 percent. Read the full report here.
HAHAHA! Here is the moment where Fox News revealed the AMAZING jobs report numbers for last month under President Biden’s economy. Even Fox News can’t hide from the truth. America is back on track and it’s because of President Biden! pic.twitter.com/MMXvMYap4j
— Harry Sisson (@harryjsisson) July 5, 2024
By the way, just for some perspective, let’s take a trip in the Way Back Machine and look at the unemployment rates at the end of each year from 1980 to 2000. Only 1999 and 2000 saw rates below what we have now. Included in the graphic are factors that influenced unemployment rates in those years. 
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