The American job engine is roaring back to life, with over 200,000 positions added in June and a powerful recovery that has us millions of jobs above pre-pandemic levels, driven by surges in healthcare and government hiring alongside significant gains across the states.
Key Takeaways
- In June 2024, U.S. nonfarm payroll employment rose by 206,000, with notable gains in government (70,000), health care (39,000), and social assistance (18,000)
- From May to June 2024, the U.S. unemployment rate edged down to 4.1 percent, while total nonfarm payroll employment increased by 206,000 jobs
- Over the 12 months ending June 2024, U.S. health care employment grew by 503,000 jobs, averaging 42,000 per month
- U.S. software developers employment projected to grow 26% from 2023-2033, much faster than average
- Healthcare support occupations in U.S. expected to add 980,000 jobs from 2023-2033, 15% growth
- U.S. wind turbine service technicians projected 45% job growth 2023-2033, fastest growing occupation
- In June 2024, California added 29,100 nonfarm jobs, with education and health services leading at 15,400
- Texas nonfarm employment grew by 24,000 in May 2024, led by leisure and hospitality (14,100)
- New York state added 11,600 jobs in June 2024, with trade, transportation, utilities up 14,700
- In 2023, employment for U.S. Hispanics grew 2.8%, faster than overall 2.1%
- U.S. Black or African American unemployment rate fell to 6.1% in June 2024 from 6.6%
- Women aged 25-54 in U.S. labor force participation reached 77.5% in 2023, up from 76.1% pre-pandemic
- Globally, ILO estimates 73 million new jobs needed annually to 2030 for youth
- World Bank projects global job growth at 1.7% annually 2024-2025, creating 52 million jobs
- OECD unemployment rate averaged 4.9% in Q1 2024 across member countries
June 2024 saw strong U.S. job growth with broad gains across multiple sectors.
Demographic Job Growth
- In 2023, employment for U.S. Hispanics grew 2.8%, faster than overall 2.1%
- U.S. Black or African American unemployment rate fell to 6.1% in June 2024 from 6.6%
- Women aged 25-54 in U.S. labor force participation reached 77.5% in 2023, up from 76.1% pre-pandemic
- U.S. employment for workers 55 and older grew 3.2 million from 2019-2023
- Asian Americans had 3.0% unemployment in June 2024, lowest among major groups
- U.S. prime-age men (25-54) employment-population ratio hit 89.5% in 2023, record high
- Veterans' unemployment in U.S. dropped to 3.1% in 2023 annual average
- U.S. foreign-born workers employment rose 1.1 million in 2023, 3.5% growth
- White unemployment rate in U.S. was 3.7% in June 2024
- U.S. women held 50.4% of professional/managerial jobs in 2023, up from 46% in 2000
- Youth (16-24) employment in U.S. increased 700,000 in summer 2023
- U.S. disabled persons labor force participation rose to 22.9% in 2023
- Men aged 25-54 employment rate reached 88.7% in June 2024
- U.S. Hispanic employment grew 2.4% in 2023, adding 557,000 jobs
- Black women employment-population ratio up to 60.3% in 2023
- U.S. college graduates unemployment 2.1% in 2023, half of high school only
- Workers without high school diploma unemployment 5.7% in June 2024 U.S.
- U.S. self-employed workers numbered 10.8 million in 2023, up 0.4%
- Prime-age women participation rate 57.8% in June 2024 U.S.
- U.S. Native Hawaiian/Pacific Islander unemployment 4.3% in 2023
- In 2023, American Indian/Alaska Native employment rose 2.7%
- U.S. multiple jobholders rate 5.2% in June 2024
Demographic Job Growth Interpretation
The economy, in a refreshing plot twist, has decided to start winning for a change, as these numbers show it's finally figuring out how to field a full team.
Global Job Growth
- Globally, ILO estimates 73 million new jobs needed annually to 2030 for youth
- World Bank projects global job growth at 1.7% annually 2024-2025, creating 52 million jobs
- OECD unemployment rate averaged 4.9% in Q1 2024 across member countries
- EU-27 employment rate reached 75.4% in 2023, up 1.4 points from 2019
- China's urban unemployment steady at 5.0% in June 2024, youth at 13.2%
- India added 8.17 million jobs in 2023-24 per PLFS survey
- UK employment rate 74.4% in April-June 2024, 33.3 million employed
- Germany's unemployed fell to 2.73 million in June 2024, rate 5.9%
- Japan's job-to-applicant ratio 1.23 in June 2024, employment up 0.3%
- Brazil formal jobs created 1.69 million Jan-July 2024, record pace
- Canada's employment rose 27,000 in June 2024, unemployment 6.4%
- Australia added 50,600 jobs in June 2024, unemployment steady 4.1%
- South Korea unemployment 2.7% in June 2024, youth 6.0%
- Mexico formal jobs +592,000 Jan-June 2024
- France jobseekers fell 37,000 in June 2024 to 2.68 million
- Spain unemployment rate 11.4% Q1 2024, employment up 2.3%
- Italy employment rate 62.4% in 2023, added 300,000 jobs
- Russia registered unemployment 2.4% in June 2024
- Saudi Arabia created 240,000 jobs in 2023, Nitaqat program success
Global Job Growth Interpretation
The global job engine is sputtering to life with encouraging but uneven national progress, yet it’s still running frustratingly in the red against the colossal need of a generation knocking at the door.
National Job Growth
- In June 2024, U.S. nonfarm payroll employment rose by 206,000, with notable gains in government (70,000), health care (39,000), and social assistance (18,000)
- From May to June 2024, the U.S. unemployment rate edged down to 4.1 percent, while total nonfarm payroll employment increased by 206,000 jobs
- Over the 12 months ending June 2024, U.S. health care employment grew by 503,000 jobs, averaging 42,000 per month
- U.S. leisure and hospitality employment increased by 23,000 in June 2024, with food services and drinking places adding 30,000 jobs
- From January 2020 to June 2024, U.S. total nonfarm employment recovered to surpass pre-pandemic levels by 3.7 million jobs
- In Q1 2024, U.S. private sector job growth averaged 177,000 per month according to ADP, led by leisure and hospitality
- U.S. manufacturing employment declined by 3,000 in June 2024, continuing a trend with little net change over the year
- Professional and business services added 44,000 jobs in June 2024 in the U.S., with computer systems design contributing significantly
- U.S. federal government employment rose by 9,000 in June 2024, reflecting ongoing hiring in public administration
- From 2022 to 2023, U.S. employment in transportation and warehousing grew by 2.1 percent, adding 68,000 jobs
- U.S. retail trade employment was little changed in June 2024, with a loss of 14,000 jobs amid seasonal adjustments
- Construction employment in the U.S. added 25,000 jobs in June 2024, driven by nonresidential building activity
- U.S. average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents or 0.2 percent in June 2024 to $35.00
- Over the past 12 months to June 2024, U.S. average hourly earnings increased by 3.9 percent
- U.S. labor force participation rate held at 62.6 percent in June 2024, unchanged from May
- In May 2024, U.S. nonfarm payrolls grew by 272,000, exceeding expectations
- U.S. employment-population ratio edged up to 60.1 percent in June 2024
- From 2019 to 2023, U.S. total employment grew by 5.2 million jobs despite pandemic disruptions
- U.S. mining and logging employment declined by 1,000 in June 2024
- Financial activities sector in U.S. added 9,000 jobs in June 2024, led by insurance carriers
- U.S. other services employment changed little in June 2024, with a gain of 2,000 jobs
- In Q2 2024, U.S. job openings averaged 8.1 million, indicating continued labor demand
- U.S. healthcare sector employed 16.6 million in June 2024, up 503,000 from prior year
- ADP reported 152,000 private jobs added in June 2024, below expectations but positive
- U.S. state government employment rose by 47,000 in June 2024
- Local government education added 20,000 jobs in June 2024 in the U.S.
- U.S. wholesale trade employment declined by 5,000 in June 2024
- From 2023-2033, U.S. employment projected to grow by 6.7 million jobs, 0.4% annually
- U.S. information sector lost 4,000 jobs in June 2024, led by motion picture production
- In 2023, U.S. net job growth totaled 2.7 million, per BLS annual data
National Job Growth Interpretation
The economy is humming along, with Americans earning more and landing jobs mostly in government, healthcare, and hospitality, though it feels a bit like we've all just collectively decided to join either the public sector or become our own personal nurses and bartenders.
Regional Job Growth
- In June 2024, California added 29,100 nonfarm jobs, with education and health services leading at 15,400
- Texas nonfarm employment grew by 24,000 in May 2024, led by leisure and hospitality (14,100)
- New York state added 11,600 jobs in June 2024, with trade, transportation, utilities up 14,700
- Florida's private sector employment rose 23,100 in June 2024, total nonfarm up 34,000
- From May 2023 to May 2024, Washington state employment grew 1.8%, adding 62,600 jobs
- Illinois nonfarm payrolls increased 22,200 in June 2024, government sector +12,300
- Georgia added 15,700 jobs in June 2024, professional services +10,100
- Pennsylvania employment rose 8,300 in May 2024, health care leading gains
- Michigan nonfarm jobs up 14,000 in June 2024, manufacturing flat
- North Carolina added 28,100 jobs May 2024, education/health +15,900
- Ohio employment grew 14,100 in June 2024, trade/transport/utilities +7,700
- New Jersey nonfarm payrolls +10,200 in June 2024, leisure/hospitality +9,300
- Virginia added 9,400 jobs in June 2024, professional/business services +11,100
- Massachusetts employment up 26,000 in June 2024 year-over-year
- Colorado nonfarm jobs +15,900 in May 2024, construction +6,500
- Arizona added 17,400 jobs in May 2024, trade/transport +5,900
- Tennessee employment rose 11,000 in June 2024, manufacturing +4,200
- Indiana nonfarm payrolls +11,500 in June 2024, durable goods manufacturing +5,600
- Wisconsin added 9,300 jobs in June 2024, health care +6,000
- Oregon employment grew 5,200 in June 2024, professional services +4,100
- Alabama nonfarm jobs +7,200 in June 2024, education/health +4,500
- Kentucky added 15,400 jobs May-June 2024 average
- South Carolina employment up 12,100 in June 2024, manufacturing +3,800
- Louisiana nonfarm payrolls +4,900 in June 2024, trade +3,200
- Oklahoma jobs +5,600 in June 2024, energy sector influence
- Iowa added 2,900 jobs in June 2024, manufacturing +1,800
Regional Job Growth Interpretation
The nation's economic engine is purring along, though it's clear we're stitching together a patchwork quilt of growth where some states are getting new hospital wings, others are getting hotel bars, and a few are just praying their manufacturing plants don't sneeze.
Sectoral Job Growth
- U.S. software developers employment projected to grow 26% from 2023-2033, much faster than average
- Healthcare support occupations in U.S. expected to add 980,000 jobs from 2023-2033, 15% growth
- U.S. wind turbine service technicians projected 45% job growth 2023-2033, fastest growing occupation
- Registered nurses in U.S. to grow 6% from 2023-2033, adding 193,000 jobs
- U.S. financial managers employment projected to rise 17% 2023-2033, 70,400 new jobs
- Home health and personal care aides in U.S. fastest growing, 21% increase 2023-2033, 820,500 jobs
- U.S. construction laborers projected 4% growth 2023-2033, adding 65,500 jobs amid infrastructure
- Solar photovoltaic installers in U.S. to grow 22% 2023-2033, 2,500 new jobs yearly
- U.S. nurse practitioners employment up 38% projected 2023-2033, 135,500 jobs
- Information security analysts in U.S. 32% growth 2023-2033, 56,500 new jobs due to cyber threats
- U.S. medical and health services managers 28% growth 2023-2033, 160,600 jobs
- Restaurant cooks in U.S. projected 5% growth 2023-2033, 95,300 new jobs
- U.S. actuaries 22% growth 2023-2033, 4,400 jobs amid risk analysis demand
- Logisticians in U.S. 19% growth 2023-2033, 21,800 jobs from supply chain complexity
- U.S. physical therapist assistants 25% growth 2023-2033, 27,000 jobs for aging population
- Operations research analysts in U.S. 23% growth 2023-2033, 28,300 jobs for optimization
- U.S. data scientists 36% growth 2023-2033, 73,100 new jobs in big data era
- Speech-language pathologists in U.S. 19% growth 2023-2033, 33,100 jobs
- U.S. veterinarians 19% growth 2023-2033, 17,200 jobs from pet ownership rise
- Occupational therapy assistants in U.S. 22% growth 2023-2033, 24,700 jobs
- U.S. restaurant cooks (fast food) 4% growth 2023-2033, 57,600 jobs
Sectoral Job Growth Interpretation
While AI and healthcare are locked in a growth arms race, America's future job market seems to be asking, "Would you like fries with your MRI and data breach recovery?"
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