Private Payrolls Growth Stayed Strong in June

U.S. nonfarm payrolls added 372,000 jobs in June. While that result would be considered very strong by longer-term historical comparison, it is on the lower end of recent gains (see first chart). The average monthly gain from 2010 through 2019 was 183,000 while the average monthly gain over the last twelve months is 524,000.

Private payrolls posted a 381,000 gain in June (see first chart). The average monthly gain from 2010 through 2019 was 181,000 while the average monthly gain over the last twelve months is 508,000. Total nonfarm payrolls are 0.3 percent below their February 2020 levels while private payrolls have finally surpassed the February 2020 peak (see second chart).

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