Each month we aim to bring you the most up to date report on how the economy is doing with statistics from the monthly report that the Bureau of Labor Statistics drops. With half of the year already behind us and the end of the year not too far ahead, this month’s report is shedding light on how the economy could be in for an upswing in the recovery process.
Here is what this month’s report looks like. Where do you think we are headed for the remainder of the year and what does it mean for your business?
June jobs report adds thousands of jobs
The June’s Bureau of Labor Statistics (BLS) employment report showed positive job growth with the addition of 195,000 positions and an unchanged unemployment rate of 7.6%. The change in total nonfarm payroll employment for April was revised from 149,000 to 199,000, and the change for May was revised from 175,000 to 195,000, adding an additional 70,000 jobs to the economy.
Economists anticipated, and accurately predicted, an unchanged unemployment rate. This month marks four years since the start of the economic recovery. Nonfarm payroll employment increased by 195,000 in June, which is slightly higher than the average monthly gain of 182,000 over the prior 12 months.
Does positive growth mean a recovery?
A number of sectors saw positive growth, including professional and business services (+53,000), retail (+37,100), leisure and hospitality (+75,000), financial activities (+17,000), healthcare (+19,800), computer systems design and related services (+7,300), and architectural and engineering services (+3,000).
Temporary help services saw an increase in May, with an addition of 10,000 jobs, contributing to the growing numbers for this year within the subsector. Additionally, another positive sign was seen with a strong increase in leisure and hospitality positions, signifying that Americans are spending money on discretionary and leisurely activities.
Adecco is seeing strong demand for workers in business and professional services, retail, IT, and the healthcare industries. Things continue to look consistently bright for employment as the economy continues towards full economic recovery.
As a provider of jobs and opportunities to help the economy recover, we aim to bring you the latest updates each month from the Bureau of Labor Statistics, it’s important to you and it’s important to us! Subscribe to our blog and follow us on Twitter for updates each month.