June Jobs Report: Unemployment Rate Rises to Highest Level Since November 2021

June Jobs Report: Unemployment Rate Rises to Highest Level Since November 2021

WASHINGTON, D.C. - Today, the Bureau of Labor Statistics (BLS) released its jobs report for June 2024. The report showed 206,000 new jobs were created in June, 12,000 less than were created in May. The unemployment rate rose to 4.1 percent,the highest level since November 2021. Job gains in April and May were revised down by a combined 111,000 compared to prior projections.

Chairman Arrington Statement on June Jobs Report:

House Budget Committee Chairman Jodey Arrington (R-TX) responds to the June jobs numbers:

"Polices have consequences and Biden's tax and spend agenda has resulted in a weaker economy and serious financial problems for working families.

With first quarter economic output growing by less than 2 percent, inflation remaining too high, an underwhelming job market with over a hundred thousand fewer jobs than previously projected, and now rising unemployment, there are real concerns about stagflation."

What Today's Report Showed:

• 206,000 jobs added in June, down 12,000from May.
  
  
• Jobs gains in April and May were revised down by a combined 111,000 compared to prior projections. The actual jobs added in April were 108,000 instead of 165,000 and the actual jobs in added in May were 218,000 instead of 272,000.
  
  
• The labor force participation increased slightly to 62.6 percent compared to 62.5 percent for May. The pre-pandemic level was 63.3 percent.
  
  
• The unemployment rate rose to 4.1 percent, with 6.8 million people unemployed. This is up from a 4.0 percent unemployment rate in May with 6.6 million people unemployed.

More on the Economy from the House Budget Committee:

• Read Chairman Arrington's statement on consumer confidence falling in June HERE.
  
  
• Read Chairman Arrington's statement on the May inflation rate coming in at 3.3 percentHERE.
  
  
• Read Chairman Arrington's statement on GDP being a low 1.4 percent for Q1 of 2024 HERE.

"Polices have consequences and Biden's tax and spend agenda has resulted in a weaker economy and serious financial problems for working families.

With first quarter economic output growing by less than 2%, inflation remaining too high, an underwhelming job market with over a hundred thousand fewer jobs than previously projected, and now rising unemployment, there are real concerns about stagflation."

"Polices have consequences and Biden's tax and spend agenda has resulted in a weaker economy and serious financial problems for working families.

With first quarter economic output growing by less than 2%, inflation remaining too high, an underwhelming job market with over a hundred thousand fewer jobs than previously projected, and now rising unemployment, there are real concerns about stagflation."

"Polices have consequences and Biden's tax and spend agenda has resulted in a weaker economy and serious financial problems for working families.

With first quarter economic output growing by less than 2%, inflation remaining too high, an underwhelming job market with over a hundred thousand fewer jobs than previously projected, and now rising unemployment, there are real concerns about stagflation."

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