WASHINGTON, D.C. — Today, the Bureau of Labor Statistics announced that 206,000 jobs were added in June. Employment in April and May combined was 111,000 jobs lower than previously reported. The unemployment rate ticked up to 4.1% (seasonally adjusted) from 4% and the number of unemployed persons ticked up to 6.8 million from 6.6 million. The labor force participation rate remained ticked up to 62.6% from 62.5% (still below pre-pandemic levels).
For women:
- The unemployment rate for adult women jumped to 3.7% from 3.4%.
- The unemployment rate spiked to 5.7% for black women from 5.2% and to 4.5% from 4.1% for Hispanic women.
- Women’s labor force participation fell by 0.3% to 57.3%.
Patrice Onwuka, director of the Center for Economic Opportunity (CEO) at Independent Women’s Forum, issued the following statement:
“Women took it on the chin last month: unemployment spiked among adult women as well as women of all reported racial demographics (white, black, and Hispanic). The number of full-time jobs is trending down, and the number of multiple job holders is rising. Women, even more than men, are taking on part-time gigs as second jobs just to make ends meet.
“The American worker is under so much pressure financially. Paychecks are still struggling to keep up with prices that are 20% higher than they were three years ago. On top of that, interest rates are hiking mortgages, car loans, and credit card debt, leaving Americans with even less discretionary income to maintain their standard of living.
“When families should be visiting family, enjoying national parks, or heading to the beach, they are stuck at home. Nearly half of those surveyed for Newsweek say they aren’t vacationing this year, largely due to the high cost of living.
“Many households are pessimistic about the economy because they can’t afford to enjoy a vacation, have exhausted savings, and are barely treading water thanks to Bidenomics. Now more than ever, we need to expand self-employment and flexible gig opportunities. Instead, President Biden’s administration is actively trying to stamp it out through his attack on independent contractors”
Read the stories of women and men who stand to lose flexible opportunities HERE.
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Independent Women’s Forum is dedicated to developing and advancing policies that aren’t just well intended but actually enhance people’s freedom, choices, and opportunities.
Independent Women’s Forum’s Center for Economic Opportunity (CEO) aims to educate the public about how government policies impact people’s opportunities for economic development and upward mobility.