The seasonally adjusted unemployment rate increased by 0.7 percent to 9.2 percent in June, up from 8.4 percent in May.
According to the Household Labor Force Survey, the number of unemployed people aged 15 years old and over increased by 234 thousand to 3 million 305 thousand in June 2024 compared to the previous month. The unemployment rate, estimated 9.2 percent, increased by 0.7 percentage points compared to the previous month; it was estimated 7.6 percent for men and 12.4 percent for women.
Seasonally adjusted employment rate realized as 49.3%
The number of employed people decreased by 341 thousand to 32 million 522 thousand persons in June 2024 compared to the previous month. The employment rate occurred as 49.3%, with a decrease of 0.6 percentage points. In addition, this rate was 66.9% for men, 32.1% for women.
Seasonally adjusted labor force participation rate realized as 54.4%
The number of persons in the labor force realized as 35 million 827 thousand persons, which decreased by 107 thousand persons in June 2024 compared to the previous month. The labor force participation rate was 54.4%, with a decrease of 0.2 percentage points. Also, this rate was 72.4% for men, it was 36.7% for women.
Youth unemployment rate at 17.6%
The youth unemployment rate in the 15-24 age group was 17.6%, which increased by 1.7 percentage points compared to the previous month. This rate was estimated at 14.8% for men and 23.2% for women.
Seasonally and calendar-adjusted average weekly actual working hours of persons at work during the reference period were estimated at 44.0 hours, which is an increase of 0.1 hours compared to the previous month in June 2024.
Labor underutilization rate realized as 29.2%
In June 2024, the rate of composite measure of labor underutilization consisting of time-related underemployment, potential labor force and unemployment was 29.2% with increased by 3.8 percentage point compared to the previous month. While the combined rate of time-related underemployment and unemployment was realized as 20.2%, the combined rate of unemployment and potential labor force was estimated as 19.5%.
