The unemployment rate in the U.S. transportation sector was 4.1% (not seasonally adjusted) in June 2022, according to Bureau of Labor Statistics (BLS) data updated today on the Bureau of Transportation Statistics (BTS) Unemployment in Transportation dashboard.
The June 2022 rate fell 2.1 percentage points from 6.2% in June 2021 and was just the same as the pre-pandemic June level of 4.1% in June of 2019. Unemployment in the transportation sector reached its highest level during the COVID-19 pandemic (15.7%) in May 2020 and July 2020, under the Trump Administration.
Unemployment in the transportation sector was slightly above overall unemployment. BLS reports that the U.S. unemployment rate, not seasonally adjusted, in June 2022 was 3.8% or 0.3 percentage points below the transportation sector rate. Seasonally adjusted, the U.S. unemployment rate in June 2022 was 3.6%.
However, Bureau of Labor Statistics reported that the American economy added 850,000 jobs in the month of June, and the unemployment rate was 5.9%, compared to 5.8% percent in May. A total of more than 3 million jobs have been added or restored since President Biden took office.
“This has been the fastest and strongest jobs recovery in American history, and it would not have been possible without the decisive action my Administration took last year to fix a broken COVID response, and pass the American Rescue Plan to get our economy back on track,” President Biden said.
“In the second quarter of this year, we created more jobs than in any quarter under any of my predecessors in the nearly 40 years before the pandemic. We have more Americans working in the private sector today than any day during Donald Trump’s Presidency – more people than any time in our history.
“The historic strength of our job market is one reason our economy is uniquely well positioned to tackle a range of global economic challenges – from global inflation to the economic fallout from Putin’s war. No country is better positioned than America to bring down inflation, without giving up all of the economic gains we have made over the last 18 months.
“Of course, having added a record number of new jobs, and achieved historically low levels of unemployment, additional job growth from this strong position will be slower. That is not a bad thing, because our economy should move to stable growth for the years ahead.
“The best way to achieve that goal is for Congress to pass legislation that lowers costs for families – from prescription drugs to utility costs – while reducing the federal budget deficit, in addition to passing the Bipartisan Innovation Act,” President Biden said.
Biden Recovery: Transportation Jobs Equal Pre-Pandemic
The June 2022 rate fell 2.1 percentage points from 6.2% in June 2021 and was just the same as the pre-pandemic June level of 4.1% in June of 2019. Unemployment in the transportation sector reached its highest level during the COVID-19 pandemic (15.7%) in May 2020 and July 2020, under the Trump Administration.
Unemployment in the transportation sector was slightly above overall unemployment. BLS reports that the U.S. unemployment rate, not seasonally adjusted, in June 2022 was 3.8% or 0.3 percentage points below the transportation sector rate. Seasonally adjusted, the U.S. unemployment rate in June 2022 was 3.6%.
However, Bureau of Labor Statistics reported that the American economy added 850,000 jobs in the month of June, and the unemployment rate was 5.9%, compared to 5.8% percent in May. A total of more than 3 million jobs have been added or restored since President Biden took office.
“This has been the fastest and strongest jobs recovery in American history, and it would not have been possible without the decisive action my Administration took last year to fix a broken COVID response, and pass the American Rescue Plan to get our economy back on track,” President Biden said.
“In the second quarter of this year, we created more jobs than in any quarter under any of my predecessors in the nearly 40 years before the pandemic. We have more Americans working in the private sector today than any day during Donald Trump’s Presidency – more people than any time in our history.
“The historic strength of our job market is one reason our economy is uniquely well positioned to tackle a range of global economic challenges – from global inflation to the economic fallout from Putin’s war. No country is better positioned than America to bring down inflation, without giving up all of the economic gains we have made over the last 18 months.
“Of course, having added a record number of new jobs, and achieved historically low levels of unemployment, additional job growth from this strong position will be slower. That is not a bad thing, because our economy should move to stable growth for the years ahead.
“The best way to achieve that goal is for Congress to pass legislation that lowers costs for families – from prescription drugs to utility costs – while reducing the federal budget deficit, in addition to passing the Bipartisan Innovation Act,” President Biden said.