USA unemployment rate was 5.9% in June 2021

July 05, 2021

Total nonfarm payroll employment increased by 850,000 in June, as the unemployment rate changed slightly to 5.9%, according to a report by the U.S. Bureau of Labour Statistics (BLS). BLS mentioned that in June, “Notable job gains occurred in leisure and hospitality, public and private education, professional and business services, retail trade, and other services.”

Leisure and hospitality employment rose by 343,000 in June 2021. According to BLS, “employment rose by 155,000 in local government education, by 75,000 in state government education, and by 39,000 in private education.” While professional and business services added 72,000 jobs in June. Employment in retail trade increased by 67,000 over the month. Other services added 56,000, social assistance (+32,000) and wholesale trade (+21,000). Additionally, employment in mining increased by 10,000 jobs, and employment in manufacturing changed little in June (+15,000). Construction employment changed little in June (-7,000). Employment in transportation and warehousing increased slightly by 11,000. Meanwhile, employment in other major industries, including information, financial activities, and health care were little changed in June.

Notably, the number of persons on temporary layoff was unchanged at 1.8 million in June. The number of permanent job losers stood at 3.2 million. While the number of long-term unemployed (those jobless for 27 weeks or more) stood at 4.0 million. Moreover, the number of unemployed persons who were jobless less than 5 weeks in June stood at 2.0 million.

The labour force participation rate for June stood at 61.6%, while the employment population ratio stood at 58%. Nonetheless, persons employed part-time for economic reasons fell by 644,000 to 4.6 million in June. Based on BLS assessment, “these individuals, who would have preferred full-time employment, were working part-time because their hours had been reduced or they were unable to find full-time jobs.”

In June, a total of 1.8 million individuals were slightly attached to the labour force. These persons were not in the labour force, wanted and were available for work, and had looked for a job in the last year. Of the marginally attached, 6177,000 persons were classified as discouraged workers in June, relatively unchanged over the month. These persons are not currently seeking work as they believe no jobs are available for them.


Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.