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US adds 19,800 temp jobs in June, overall job growth slows

July 02, 2015

The US had 19,800 more temp jobs in June than May, up from an increase of 17,200 in May based on revised numbers, according to seasonally adjusted data from the US Bureau of Labor Statistics.

In addition, the temp penetration rate in June rose to 2.055% from May’s rate of 2.044%. The penetration rate reflects temporary help services jobs as a percent of total US nonfarm employment.

The US overall added 223,000 nonfarm jobs in June, a decrease from the 254,000 added in May (May’s figure was revised downward from 280,000). Job gains occurred in professional and business services, health care, retail trade, financial activities, and in transportation and warehousing. Mining employment continued to decline.

Bloomberg reports the increase fell below the median forecast of 97 economists, which called for a 233,000 advance.

“This is a softer report than people expected but it’s certainly not a game changer,” said Stephen Stanley, chief economist at Amherst Pierpont Securities, who projected a 225,000 gain in the Bloomberg survey. “The job market is still solid. The big surprise was wages. Wages look weak.”

The labor market continues to tighten, according to The Conference Board.

“The drop in the unemployment rate, to 5.3 percent in June, suggests that finding qualified workers, which according to some measures is already more difficult than in the pre-recession years, will become even harder,” The Conference Board stated. “Given that the labor force is barely growing at all, current job growth rates will continue to rapidly lower the unemployment rate.”

The US unemployment rate fell to 5.3% in June from 5.5% in May. The college-level unemployment rate, which can serve as a proxy for professional employment, fell June to 2.5% from 2.7% in May.

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