The expansion has now reached 92 months of growth.
With 213,000 net new jobs added in June, the labor market’s expansion now totals 92 consecutive months, placing it among the longest periods of post-war expansion.
Remarkably, gains have been found largely across industries, although retail trade posted contraction of 21,600 jobs after showing signs of recovery earlier in the year. A slight boost to the participation rate pushed unemployment up 20 basis points to 4.0 percent, however.
Job openings jumped closer to 6.7 million in June, resulting in an annual spike of 9.7 percent, indicative of employers being unable to find the talent they need. Even with a significant shortage of talent in almost all metro areas, wage growth isn’t budging at 2.7 percent.
Senior Research Analyst
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