The Labor Department’s Bureau of Labor Statistics released its jobs numbers for June this morning. CNS News posted the numbers.
This is the Labor Force Participation Rate chart taken from the Bureau of Labor Statistics:
Meanwhile, the article at CNS News reports:
The U.S. economy added 220,000 jobs in June, the best showing since February and well above analysts’ expectations of 174,000.
The Labor Department’s Bureau of Labor Statistics also said the number of employed Americans — which set records in February, March and April — set another record in June, at 153,168,000 employed.
And the number of Americans not in the labor force — after four straight monthly gains – dropped a bit to 94,813,000.
There is still a lot that needs to be done to put Americans back to work, but we are moving in the right direction. Cutting back on federal regulations should help stimulate the economy, but that impact of cutting those regulations may not be immediately felt.
The article further reports:
Over the past 3 months, job gains have averaged 194,000 per month.
In a June 29, 2017 update, the Congressional Budget Office said it expects the U.S. labor market to tighten in the next two years, as greater demand for workers will push the unemployment rate down and the labor force participation rate up.
The projected demand for workers will encourage more people to participate in the labor force, temporarily offsetting the projected decline in participation arising from such factors as the ongoing retirement of baby boomers.
CBO projects that the unemployment rate will remain around 4.3 percent by the end of 2017 and then drop further to 4.2 percent in early 2018.