The Labor Department released its unemployment statistics for the month of June on Friday. It showed that the economy produced about 372,000 jobs in the month. That was good enough to keep the unemployment rate at 3.6% for the fourth month in a row (2.3 points below the rate in June a year ago).
Here are the relevant statistics for June 2022:
SIZE OF THE CIVILIAN WORK FORCE:
164,023,000
OFFICIAL NUMBER OF UNEMPLOYED WORKERS:
5,912,000
OFFICIAL UNEMPLOYMENT RATE:
3.6%
DEMOGRAPHIC BREAKDOWN OF OFFICIAL UNEMPLOYMENT:
Adult men...............3.3%
Adult women...............3.3%
Teens (16-19)...............11.0%
Whites...............3.3%
Blacks...............5.8%
Asians...............3.0%
Hispanics...............4.3%
Less than HS diploma...............5.8%
HS graduate...............3.6%
Some college...............3.1%
Bachelor's deg. or more...............2.1%
NUMBER OF MARGINALLY-ATTACHED WORKERS (unemployed but not in official count):
1,504,000
MORE REALISTIC NUMBER OF UNEMPLOYED (official + marginally-attached):
7,416,000
MORE REALISTIC UNEMPLOYMENT RATE:
4.5%