Economic Job Growth Doesn’t Hit the Mark in July

May US Jobs Report

July’s Bureau of Labor Statistics (BLS) employment report showed positive job growth with the addition of 162,000 positions and a slightly lowered unemployment rate of 7.4%. While this number was slightly lower than what economists expected, and there were downward revisions of 26,000 in May and June.

What was the expected job growth numbers for July 2013?

Even though the overall numbers weren’t anywhere near the estimated 185,000 jobs to be added, there were a number of sectors that saw positive growth, including the addition of jobs in:

  • professional and business services (+36,000),
  • manufacturing (+6,000),
  • retail (+46,800),
  • leisure and hospitality (+23,000),
  • healthcare (+2,500),
  • financial activities (+15,000).
  • Temporary help services had slight upward growth of 7,700 positions in July.

While the summer can, at times, show a softened employment market, this report signifies that growth may hit slower months on the path to total recovery.

An eye on the job market:

Adecco is seeing strong demand for workers in business and professional services, finance, retail, IT, engineering and the healthcare industries. Many of our clients are still opting to augment their workforces through temporary employees as they judge the path of the economy for the remainder of 2013.

Adecco’s areas of expertise:

Do you think that the economy can sustain job growth through the end of the year?