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In June 2024, the U.S. economy added 206,000 jobs, surpassing the expected 191,000, indicating continued economic strength.
However, the unemployment rate rose to 4.1%, marking the highest level since November 2021 and slightly above the expected 4.0%.
This increase in unemployment was accompanied by a rise in labor participation. “Experts” say the job growth was primarily driven by government and health care sectors, with private sector job growth slightly below expectations.
Despite the rise in unemployment, wage growth remained robust at 3.9% over the past year, outpacing inflation.
REACTION ONLINE:
U.S. added 206k jobs, beating estimates, and indicating continued economic strength. However, unemployment rose to 4.1%, marking the highest level since late 2021 and above the expected 4%. Here's my common sense explanation: jobs are going to illegals.
— Great American Newsletter (@TrustDML) July 5, 2024
Today’s report shows that 206,000 new jobs were created last month, and a record 15.7 million jobs created during my Administration.
We have more work to do, but wages are growing faster than prices, and we're seeing the highest share of working-age Americans in the workforce in…
— President Biden (@POTUS) July 5, 2024
NEW: The official jobs numbers from the past two months have been revised downward by -111,000.
The unemployment rate has risen to 4.1% — the highest since November 2021. pic.twitter.com/STPNNClKGl
— RNC Research (@RNCResearch) July 5, 2024
