Maybe the U.S. economy sensed the jobs report would be released around the Fourth of July and wanted to steal its thunder because this was one (surprisingly) healthy jobs report released this morning. And before you check your calendar to make sure you’re not losing your mind, yes, the U.S. Bureau of Labor Statistics did release the June 2014 report a day earlier because of the holiday weekend.
As you may know, following each month’s jobs report, we read dozens of news reports, scour the Web, and break what we find down to three key talking points you can use. Whether you’re taking a break at the office water cooler or conversing with peers in the industry, you’ll have three conversation starters in your pocket.
HERE’S THE NEWS YOU CAN USE FROM TODAY’S RELEASE:
1. Time to celebrate? Why not! Not that you shouldn’t take these numbers with a grain of salt, but since the country is in a celebratory mood already, let’s take a minute to smile at the fact that employers added 288,000 jobs in June, which was quite a bit more than the 215,000 jobs that economists had anticipated. What’s more, the unemployment rate fell from 6.3 percent to 6.1 percent, which is the lowest it has been since back in September 2008.
2. More good news … or maybe people are just in a generally good mood. Not only were April and May’s jobs numbers revised up — a total of 29,000 jobs MORE than was originally reported by the BLS — but also I guess you could say we’re on a roll. This jobs report solidifies the fact that we now have the “best five-month stretch of job creation” in about eight years. As one economist told The Wall Street Journal: “This is one welcome Fourth-of-July report for the outlook. [The 288,000 new jobs] are just the fireworks the economy needs to brighten up.” Um, if you say so, sir.
3. Yay for lower wage jobs! (Wait, what?!) You heard that right. This jobs report shows that lower-wage sectors are winning when it comes to job creation each month. For instance, retail added more than 40,000 jobs and leisure/hospitality added 39,000. Some of the higher-wage sectors such as manufacturing and construction are running the race a little bit slower, with 16,000 and 6,000 respectively.
In case you’re looking for handy, easily digestible charts from the just-released jobs report, Quartz has some with highlights.