Latest June 2026 · monthly, seasonally adjusted · establishment and household surveys · series from 1939
Payrolls
+57k
Jun 2026
3-month average
+111k
trend pace
Unemployment rate
4.2%
Jun 2026
Participation
61.5%
labour force
Hourly earnings
3.5%
year over year
Openings per unemployed
1.04
May 2026
RangeFromToShaded = NBER recession
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shaded bands mark NBER-dated US recessions, peak to trough
Payrollsmonthly change, thousands of jobs
Source: Macro Edge Research · underlying data U.S. Bureau of Labor Statistics
The trend, and the other surveya single month is revised twice · the averages are the signal
Source: Macro Edge Research · underlying data U.S. Bureau of Labor Statistics
Unemploymentheadline and the broader U-6 measure
Source: Macro Edge Research · underlying data U.S. Bureau of Labor Statistics
Sahm rulereal-time basis · 0.50pp has historically marked recession onset
Source: Macro Edge Research · underlying data U.S. Bureau of Labor Statistics, Federal Reserve Bank of St. Louis
Participation & employment
Source: Macro Edge Research · underlying data U.S. Bureau of Labor Statistics
How long people stay unemployedweeks
Source: Macro Edge Research · underlying data U.S. Bureau of Labor Statistics
Involuntary part-timemillions of people
Source: Macro Edge Research · underlying data U.S. Bureau of Labor Statistics
TurnoverJOLTS rates
Source: Macro Edge Research · underlying data U.S. Bureau of Labor Statistics
Wages against pricesearnings growth is only a real gain above the core rate
Source: Macro Edge Research · underlying data U.S. Bureau of Labor Statistics
Tightnessopenings per unemployed person
Source: Macro Edge Research · underlying data U.S. Bureau of Labor Statistics
Payrolls are the monthly change in total nonfarm employment from the establishment survey; the unemployment, participation and employment ratios come from the separate household survey, so the two can and do diverge. Each payroll print is revised in the following two months and again at the annual benchmark, which is why the three- and six-month averages are shown alongside it. Openings per unemployed person is computed by Macro Edge Research from JOLTS openings and the household survey. The Sahm rule is shown on its real-time basis, using unemployment data as published at the time rather than as later revised.
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