MOUNTAIN VIEW, Calif., Aug. 8, 2016 /PRNewswire/ -- A total of 255,000 jobs were added to the US economy in July, according to data released last Friday by the U.S. Bureau of Labor Statistics, in a second consecutive month of strong growth ahead of expectations.
The job sectors leading the growth this month were Professional Services (excluding temporary help, +53,000), Healthcare & Social Assistance (+58,400), Leisure & Hospitality (+45,000) and Government (+38,000). Year-on-year total employment rose 1.7%. The Natural Resources and Mining (-7,000) sector posted losses again this month, with Education (-13,600) also showing weakness.
Temporary help services employment added 17,000 jobs in July, up 0.58%. As a result, the temporary penetration rate rose to 2.03%, its highest level so far for 2016. Year-on-year temporary help employment led all sectors in terms of percentage growth, up 1.9%, with monthly job gains averaging 4,600 over the past twelve months. Upward revisions to the temporary services sector for May from -19,000 to -14,700, and for June from +15,200 to +21,700, yielded gains that were 10,800 higher than previously reported.
"Despite prevailing economic indicators that suggest demand may be softening, the healthy growth this month, in both total employment as well as in temporary help services, is a signal that businesses are continuing to hire and to utilize temporary staffing," said Barry Asin, President of Staffing Industry Analysts (SIA). "The job gains, for both June and July, along with positive revisions to the months prior, suggest that the recent deceleration has stabilized. Business uncertainty remains elevated, however, and we advise close monitoring of economic and employment data."
The unemployment rate was down 2 basis points to 4.88%, while labor force participation rate was up 10 basis points to 62.8%.
SIA's full August Jobs Report analysis is available here.
About Staffing Industry Analysts (SIA)
Founded in 1989, SIA is the global advisor on staffing and workforce solutions. Our proprietary research covers all categories of employed and non-employed work including temporary staffing, independent contracting and other types of contingent labor. As a division of the international business media company, Crain Communications Inc., SIA is headquartered in Mountain View, California, with offices in London, England. Read more about SIA here.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/july-us-jobs-report-shows-strength-300310122.html
SOURCE Staffing Industry Analysts