US Full-Time Jobs Fell 514K in June, Third Straight Monthly Drop
Full-time employment in the US dropped by 514,000 in June to 133.66 million, the lowest since December 2024. This marks the third consecutive monthly decline, with total losses reaching 1.01 million over that period.
The US labor market is showing accelerating weakness. Full-time employment fell by 514,000 in June, bringing the total to 133.66 million — the lowest level since December 2024.
This marks the third consecutive monthly decline, with cumulative losses of 1.01 million. Since January 2025, full-time employment has dropped by 2.24 million, returning to levels last seen in the first quarter of 2023.
The full-time employment-to-population ratio, a measure of the share of the population working full-time, fell to 48.5%. This is down from 50.5% in 2022 and the lowest since mid-2021.
Source: The Kobeissi Letter