US Economy Adds 255K Jobs in July
Total nonfarm payroll employment in the United States increased by 255,000 in July of 2016, lower than a upwardly revised 292,000 in June, but above market expectations of 180,000. Job gains occurred in professional and business services, health care, and financial activities. Employment in mining continued to trend down.
8/5/2016 1:39:32 PM
Professional and business services added 70,000 jobs in July and has added 550,000 jobs over the past 12 months. Within the industry, employment rose by 37,000 in professional and technical services in July, led by computer systems design and related services (+8,000) and architectural and engineering services (+7,000). Employment in management and technical consulting services continued to trend up (+6,000).
In July, health care employment increased by 43,000, with gains in ambulatory health care services (+19,000), hospitals (+17,000), and nursing and residential care facilities (+7,000). Over the past 12 months, health care has added 477,000 jobs.
Employment in financial activities rose by 18,000 in July and has risen by 162,000 over the year.
Employment in leisure and hospitality continued to trend up in July (+45,000). Employment in food services and drinking places changed little in July (+21,000); this industry has added an average of 18,000 jobs per month thus far this year, compared with an average monthly gain of 30,000 in 2015.
Government employment edged up in July (+38,000).
Employment in mining continued to trend down over the month (-6,000). Since reaching a peak in September 2014, employment in this industry has fallen by 220,000, or 26 percent.
Employment in other major industries, including construction, manufacturing, wholesale trade, retail trade, and information, showed little or no change over the month.
The change in total nonfarm payroll 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.