The June Unemployment Rate Rises Slightly To 4.1%

The Labor Department released its unemployment report for June on Friday. It showed the economy produced about 206,000 new jobs. The unemployment rate inched up by 0.1% to 4.1% for the month. Here are the relevant statistics for June 2024:

SIZE OF THE CIVILIAN WORK FORCE:

168,009,000

OFFICIAL NUMBER OF UNEMPLOYED WORKERS:

6,811,000

OFFICIAL UNEMPLOYMENT RATE:

4.1%

DEMOGRAPHICS OF OFFICIAL UNEMPLOYMENT:

Adul men...............3.8%

Adult women...............3.7%

Teens (16-19)...............12.1%

Whites...............3.5%

Blacks...............6.3%

Asians...............4.1%

Hispanics...............4.9%

Less than HS diploma...............5.9%

HS graduate...............4.2%

Some college...............3.4%

Bachelor's deg. or more............... 2.4%

NUMBER OF MARGINALLY-ATTACHED WORKERS (unemployed but not counted):

1,508,000

MORE REALISTIC NUMBER OF UNEMPLOYED WORKERS (official + marginally-attached):

8,319,000

MORE REALISTIC UNEMPLOYMENT RATE:

4.95%