The Latest Numbers From the BLS Employment Situation Report
After picking up last month, private-sector employment showed a second consecutive month of job gains — reinforcing again that the weak May nonfarm-payroll report was just a temporary dip.
The Bureau of Labor Statistics’ jobs report showed that 255,000 private-sector jobs were added in July, far exceeding economists’ expectations for a gain of 179,000 jobs.
Economists predicted 179,000 job additions ahead of this morning’s jobs report and the report exceeded expectations. 255,000 jobs were added this month which is below last month’s booming 287,000 jobs.
Employment for May was revised from +11,000 to +24,000, and the change for June was revised from +287,000 to +292,000. With these revisions, employment gains in May and June combined were 18,000 more than previously reported. Over the past 3 months, job gains have averaged 190,000 per month.
While the pickup in private-sector employment in June and July suggest May’s very weak numbers were indeed an outlier, all eyes are still on the Fed. Today’s employment report will be pivotal because it is among the most significant economic data the Federal Reserve reviews before deciding whether to raise interest rates in September.
Here is a look at the national numbers from this month’s report:
In July, hourly wages rose $0.8 to $25.69 per hour, bringing the year-over-year wage percentage increase to 2.6%. The unemployment rate increased month-over-month and now sits at 4.9%.
- $25.69 July
- $25.61 June
- + 8 cents month-over-month
- +2.6% year-over-year
- 4.9% July
- 4.9% June
- +0% month-over-month
- -0.4% year-over-year
In-Depth Look: Our Industries
Let’s dive right into a look at how our industries compare to the national numbers:
- Professional and business services
- Month-over-month change: +70,000
- +550,000 jobs added year-over-year
- Month-over-month change: +14,000
- +215,000 jobs added year-over-year
- Month-over-month change: +9,000
- -31,000 jobs lost year-over-year
- Transportation and warehousing
- Month-over-month change: +11,700
- +38,400 year-over-year job gains
- Health care
- Month-over-month change: +43,200
- +476,900 jobs added year-over-year
- Month-over-month change: +17,100
- +183,400 jobs added in the last year
- Administrative and support services
- Month-over-month change: +31,300
- +214,100 jobs added year-over-year
- Office Administrative Services
- Month-over-month change: +2,700
- +24,100 jobs added year-over-year
The market remains hot for job seekers looking for top HR, non-clinical healthcare and supply chain and logistics jobs and employers will need to stay competitive. Make sure you’re paying your people the right salary and doing everything you can to recruit and retain the best talent – check out our employer resource center at ajilon.com to find out how. And be sure to keep an eye out for our 2017 Salary Guide, hitting the market in September!