U.S. economy adds 80,000 jobs in June; unemployment rate unchanged at 8.2%

The United States added 80,000 jobs in June, very close to the consensus predictions of recent weeks. The unemployment rate remained at 8.2%, as it was last month.

We’ve had disappointing economic news the last few weeks, but we got a good report on auto sales. Plus, much more importantly, we’re seeing a clear turn in housing, with prices rising and with private construction rebounding. Don’t expect that to produce a surge in construction jobs or any other dramatic number, but it’s a key element of the recovery.

From the Bureau of Labor Statistics:

Professional and business services added 47,000 jobs in June, with temporary
help services accounting for 25,000 of the increase. Employment also rose
in management and technical consulting services (+9,000) and in computer
systems design and related services (+7,000). Employment in professional
and business services has grown by 1.5 million since its most recent low
point in September 2009.

Employment in manufacturing continued to edge up in June (+11,000).
Growth in the second quarter averaged 10,000 per month, compared with
an average of 41,000 per month during the first quarter. In June,
employment increased in motor vehicles and parts (+7,000) and in
fabricated metal products (+5,000).

Employment continued to trend up in health care (+13,000) and wholesale
trade (+9,000) in June.

Employment in other major industries, including mining and logging,
construction, retail trade, transportation and warehousing, financial
activities, leisure and hospitality, and government, showed little or
no change.

The average workweek for all employees on private nonfarm payrolls
edged up by 0.1 hour to 34.5 hours in June.
The manufacturing workweek
edged up by 0.1 hour to 40.7 hours, and factory overtime was 3.3 hours
for the fifth consecutive month. The average workweek for production and
nonsupervisory employees on private nonfarm payrolls edged up by 0.1
hour to 33.8 hours.

In June, average hourly earnings for all employees on private nonfarm
payrolls increased by 6 cents to $23.50
. Over the year, average hourly
earnings have increased by 2.0 percent. In June, average hourly earnings
of private-sector production and nonsupervisory employees increased by
5 cents to $19.74.