The Employment Situation in June

The economy added 223,000 jobs in June as the unemployment rate fell to 5.3 percent. Our economy has now added 5.6 million jobs over the past two years, the strongest two-year job growth since 2000. But despite this progress, there is more work to do. We must continue to build on the positive trends underlying our economy by ensuring that Americans working overtime receive a fair day’s pay, opening new markets for U.S. goods and services through expanded trade, increasing investments in infrastructure, providing relief from the sequester, and raising the minimum wage.

FIVE KEY POINTS ON THE LABOR MARKET IN JUNE 2015

1. The private sector has added 12.8 million jobs over 64 straight months of job growth, extending the longest streak on record. Today we learned that total nonfarm employment rose by 223,000 in June—and all those jobs came from the private sector. Although total job growth was revised down somewhat in April and May, much of the revision is attributable to lower government employment than previously estimated. On the whole, our economy has added 2.9 million new jobs over the past twelve months, near the fifteen-year high achieved in February.

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