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‘Not Giving Up’: Job Data Show Just How Tight US Labor Really Is

  • Broader measure of unemployment set a record low in June
  • Some wages are still rising, and openings near all-time high

Nearly 400,000 jobs added in a month and an unemployment rate near a 50-year low is probably enough evidence of the extreme tightness in the US labor market. But a look beneath the surface of the June employment report, and other recent data, shows just how hot it really is.

A more inclusive measure of joblessness hit a record low last month, while wages for workers who aren’t in management roles kept rising, the Labor Department’s report showed. Job openings also remain close to all-time highs, and a near-record number of small businesses raised compensation in June.