| Jobs Report: U. Hiring Crushes Expectations. What It Means for Interest Rates.
Last d: 4 hours agoSofter Details Worth Watching in the Jobs ReportByMegan LeonhardtIt’s easy to take June’s robust headline payroll growth and lower unemployment at face value, but the details of Thursday's report do reveal some cooling patterns worth watching in the coming months.
Job growth outside of healthcare, social assistance, and government was “anemic at best” in June, writes Cory Stahle, Indeed Hiring Lab economist.
These sectors accounted for 94% of all net new gains last month. The number of long-term unemployed—those who have been seeking a job for at least 27 weeks—increased by 190,000 to 1. 6 million in June.
That largely offsets the notable decrease seen in May. These workers accounted for 23. 3% of all unemployed people.