Employment Research Brief

June 09, 2023

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Hiring reaches four-month high. Employers across the country created 339,000 new jobs last month, the most since January. Hiring occurred across industries, as only the manufacturing and information sectors reported net staff contractions. The number of self-employed individuals also declined notably in May, contributing to a 30-basis-point rise in unemployment to 3.7 percent. The rate has not been higher since February of last year, and is still very low from a wider historical context. Part of the increase also came from more people re-entering the labor pool, a potential benefit for future hiring efforts.

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