This morning, the Bureau of Labor Statistics (BLS) reported that employment rose by 163,000 jobs in July. Despite seeing the largest number of jobs added to the economy in 5 months and beating expectations, the unemployment rate held was slightly bumped up to 8.3%. In addition to initial results for July, employment numbers for May and June were also adjusted, down a combined 6,000 jobs.
The greatest growth in employment was seen in in professional and business services, which added 49,000 jobs, noting that computer systems and design grew by 7,000 and temporary services increased by 14,000. Leisure and hospitality was led by food services and drinking establishes, rising my 29,000. Other sectors with growth included manufacturing (+25,000), health care (+12,000) , and wholesale trade. Jobs in the utilities sector declined 8,000, mostly due to union workers involved in labor-management disputes. All other major industries saw little to no changes in July.
Along with these preliminary numbers for July, the BLS issued final job gains for May, which was revised from +77,000 to +87,000 (adding 10,000). June numbers were also revised, but decreased from +80,000 to +64,000.
Links to this article (3)
August 6, 2012 - www.wantedanalytics.com
Where Were the Jobs In July? – Jobs. Trends. Insight.
August 13, 2012 - www.wantedanalytics.com
Manufacturing Hiring Demand Increases – But For Which Jobs? – Jobs. Trends. Insight.
September 11, 2012 - www.wantedanalytics.com
Where Were the Jobs in August? – Jobs. Trends. Insight.