June Jobs Report 2023

The June Jobs Report, released by the Bureau of Labor Statistics, showed job gains of 209,000.

This report reveals a slightly tempered arc of job growth, perhaps a sign that the economy is responding to interest rate hikes by the Fed. At the same time, the job market is showing sustained resiliency and giving economists some signs that the economy may be headed for a soft landing rather than a recession.

Highlights from the June Jobs Report

• June was the 30th consecutive month of job gains
• The biggest job gains were in healthcare and government services, with more moderate positive change in leisure and hospitality.
• The continued resilience of the job market has economists expecting the Fed to raise rates again in July

A Closer Look at the Categories of Job Growth

• Employment in government increased by 60,000 in June. Employment continued to trend up in state government (+27,000) and local government (+32,000). Overall, government has added an average of 63,000 jobs per month thus far in 2023, more than twice the average of 23,000 per month in 2022, according to the BLS.
• Health care added 41,000 jobs in June. Job growth occurred in hospitals (+15,000), nursing and residential care facilities (+12,000), and home health care services (+9,000). Offices of dentists lost 7,000 jobs. Health care has added an average of 42,000 jobs per month thus far this year, similar to the average gain of 46,000 per month in 2022.
• Social assistance added 24,000 jobs in June, mostly in individual and family services (+18,000). Job growth in social assistance has averaged 22,000 per month thus far in 2023, in line with the average of 19,000 per month in 2022.
• Employment in construction continued to trend up in June (+23,000). Employment in the industry has increased by an average of 15,000 per month thus far this year, compared with an average of 22,000 per month in 2022. In June, employment in residential specialty trade contractors continued to trend up (+10,000).
• Employment in professional and business services and leisure and hospitality rose by 21,000 respectively.
• Employment in professional, scientific, and technical services continued to trend up over the month (+23,000).
• Employment continued to decline in building material and garden equipment and supplies dealers (-10,000) and in furniture, home furnishings, electronics, and appliance retailers (-5,000). Motor vehicle and parts dealers added 6,000 jobs.

Catch Up With Previous Jobs Reports

• May’s economic resiliency
• Reassessing the strength of the economy in April
• March’s strong growth
• February’s blockbuster growth
• January’s strong growth despite Omicron
• Promising news for hospitality in December
• November’s mixed picture
• October’s robust gains
• A slower-than-expected report in September
• The summer‘s roaring recovery trajectory
• Better than expected growth in June, especially in travel
• Strong signs of recovery in May
• An anemic April jobs report

Stay on Top of Economic Trends Transforming Executive Recruiting

Each week, we here at ACCUR Recruiting Services aim to give you an up-to-the-minute look at the key trends that will affect hiring in your business. We leverage our extensive experience working with Fortune 500 companies, legacy brands and private-equity backed companies to offer the most candid advice possible on attracting and retaining top executive talent.

Be sure to bookmark our regular series:

• Monthly Jobs Report with a quick summary of how the economic picture is affecting your industry
• Ask a Recruiter series which gives candid hiring advice based on questions from our clients.

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