Written By ESR News Blog Editor Thomas Ahearn
The U.S. economy added 255,000 jobs in July 2016 while both the unemployment rate and the number of unemployed persons remained essentially unchanged at 4.9 percent and 7.8 million respectively, according to ‘THE EMPLOYMENT SITUATION — JULY 2016’ released by the U.S. Department of Labor’s Bureau of Labor Statistics.
The Employment Situation Report for July 2016 revealed that job gains occurred in professional and business services, leisure and hospitality, health care, government, and financial activities:
- Professional and Business Services Employment: 70,000 Jobs Added.
- Leisure and Hospitality Employment: 45,000 Jobs Added.
- Health Care Employment: 43,000 Jobs Added.
- Government Employment: 38,000 Jobs Added.
- Financial Activities Employment: 18,000 Jobs Added.
On the negative side, mining employment continued to trend down in July with 6,000 jobs lost. Employment in other major industries such as construction, manufacturing, wholesale trade, retail trade, and information showed little or no change during the month.
The change in employment for May 2016 was revised from 11,000 jobs added to 24,000 jobs added while the change for June 2016 was revised from 287,000 jobs added to 292,000 jobs added. With these revisions, employment gains in May and June combined were 18,000 more than previously reported.
The ‘THE EMPLOYMENT SITUATION’ is usually released on the first Friday of every month. The Employment Situation for August 2016 is scheduled to be released on September 2, 2016. Until then, the current jobs report will be available at www.bls.gov/news.release/empsit.nr0.htm.
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