June 2023 Jobs Report: Employers Add 209,000 Jobs
Robert Half
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The Bureau of Labor Statistics (BLS) reports that U.S. employers expanded payrolls by 209,000 jobs last month. That figure is below many economists’ projections of between 225,000 and 240,000 jobs.
The June jobs report also notes that employers in the U.S. added 110,000 fewer jobs than previously reported for April and May combined.
Healthcare and government sectors were major contributors to job growth in June
The private education and health services industry led job creation in June with employers adding 73,000 jobs. Government employers also expanded payrolls last month, adding 60,000 positions.
These industries also reported notable job gains in June:
Unemployment rate dials down to 3.6%
The BLS reports that the national unemployment rate was 3.6% in June, down from 3.7% in May.
The unemployment rate for college-degreed workers who are 25 or older — the professionals most highly sought-after by many employers — also decreased last month to 2.0%. In May, the rate was 2.1%.
U.S. job openings decrease, while quits rise
According to separate data from the BLS, 9.8 million jobs in the U.S. were waiting to be staffed at the end of May. That figure was 10.3 million in April.
Meanwhile, quits increased to 4 million in May, up from 3.8 million in April. This suggests that many professionals remain optimistic about their job prospects.
However, while the job market is still favorable for those with in-demand skills, it may take time for candidates to secure a new role. Robert Half’s research shows employers are taking longer to staff positions. It can now take 11 weeks to hire, up 57% from 2021.
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A word of caution for employers, though: Robert Half’s research also indicates that lengthy hiring processes are a major factor in losing top candidates. Nearly a third (29%) of hiring managers who said they’d missed out on a good hire in the past year attributed their lack of success to taking too long to make an offer.
Stay current on hiring trends: Demand for Skilled Talent
Read the latest issue of Robert Half’s Demand for Skilled Talent report to get details on in-demand positions for several professional fields, including technology, legal, administrative and customer support, and accounting and finance. Read up on local and remote hiring trends in the United States and view research on employers’ hiring challenges and plans, workers’ top concerns, and more.
You can view our free report right now?on the Robert Half website.
Get more insights from the Robert Half Blog
Whether you’re an employer or job seeker, the Robert Half Blog can also help keep you informed about the latest job market and hiring trends. Here’s just some of our latest content.
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Resources for employers
·????????How to Expand Your Talent Pipeline With Nontraditional Candidates: If you’re having trouble finding candidates who meet your exact job requirements, you may want to be more flexible. Learn about the upsides of considering nontraditional candidates.
·????????How to Hire an Employee: 6 Tips to Head Off Hiring Headaches: Hiring mistakes are costly and can lead to numerous ripple-effect problems. Get tips on how to hire an employee who can deliver maximum value to your company.