US Jobs Market Remains Solid in July


Non farm payrolls in the US increased by 209K in July of 2017, below an upwardly revised 231K in June but above market expectations of 183 thousand. Employment increased in food services and drinking places, professional and business services, and health care.

Employment in food services and drinking places rose by 53,000 in July. The industry has  added 313,000 jobs over the year.

Professional and business services added 49,000 jobs in July, in line with its average  monthly job gain over the prior 12 months. 

In July, health care employment increased by 39,000, with job gains occurring in ambulatory  health care services (+30,000) and hospitals (+7,000). Health care has added 327,000 jobs  over the past year. 

Employment in mining was essentially unchanged in July (+1,000). From a recent low in  October 2016 through June, the industry had added an average of 7,000 jobs per month. 

Employment in other major industries, including construction, manufacturing, wholesale  trade, retail trade, transportation and warehousing, information, financial activities,  and government, showed little change over the month. 

The change in total nonfarm payroll employment for May was revised down from +152,000 to  +145,000, and the change for June was revised up from +222,000 to +231,000. With these revisions, employment gains in May and June combined were 2,000 more than previously  reported. Monthly revisions result from additional reports received from businesses and  government agencies since the last published estimates and from the recalculation of  seasonal factors. Over the past 3 months, job gains have averaged 195,000 per month. 

Both the unemployment rate, at 4.3 percent, and the number of unemployed persons, at 7.0  million, changed little in July. After declining earlier in the year, the unemployment  rate has shown little movement in recent months.

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.5  hours in July. In manufacturing, the workweek was also unchanged at 40.9 hours, and  overtime remained at 3.3 hours. The average workweek for production and nonsupervisory  employees on private nonfarm payrolls was 33.7 hours for the fourth consecutive month. 

In July, average hourly earnings for all employees on private nonfarm payrolls rose by 9  cents to $26.36. Over the year, average hourly earnings have risen by 65 cents, or 2.5  percent. In July, average hourly earnings of private-sector production and nonsupervisory employees increased by 6 cents to $22.10.


US Jobs Market Remains Solid in July


Anna | anna@tradingeconomics.com
8/4/2017 12:41:52 PM