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Jobs Added

Metro +2,800
  • Month Over Month: +0.4%
  • 3 Month Average: 4,500
  • Year Over Year: +3.2%
State +13,200
  • Month Over Month: +0.3%
  • 3 Month Average: 15,100
  • Year Over Year: +2.3%
National +157,000
  • Month Over Month: +0.1%
  • 3 Month Average: 224,333
  • Year Over Year: +1.6%

Unemployment Rate

Metro 3.7%
  • Month Over Month: +0.5%
  • 3 Month Average: 3.4%
  • Year Over Year: -0.3%
State 4.2%
  • Month Over Month: +0.5%
  • 3 Month Average: 3.87%
  • Year Over Year: -0.4%
National 3.9%
  • Month Over Month: -0.1%
  • 3 Month Average: 3.9%
  • Year Over Year: -0.4%

The latest report from the Bureau of Labor Statistics shows that 157,000 jobs were added to the economy in July. The largest gains were seen in health care, manufacturing and social assistance. Growth in manufacturing suggests that current trade tensions aren’t yet affecting the labor market.

Although economists projected that 190,000 jobs would be added in July, this jobs report is definitely not all bad news. The two previous months’ reports were revised up by a total of nearly 60,000 jobs, and the unemployment rate slid back down to 3.9 percent, closer to the 18-year low seen in May.

“It appears to be that the strength of fiscal stimulus measures are outweighing any kind of effect of trade tensions,” said Josh Wright, chief economist at the software firm iCIMS.

There is still a great deal of concern around wage growth, which grew only .3 percent from last month, and sits at a 2.7 percent increase over this time last year. The inflation rate is about 2 percent, so many Americans are not yet seeing the fruits of this growing economy. However, because there are more job openings than qualified candidates, employers may be forced to start increasing wages at a more rapid rate.

One important factor that a strong jobs forecast was the low number of people filing for initial unemployment benefits. First-time unemployment claims are an early sign of mass layoffs, but they were near a 50-year low when BLS conducted its survey for the July jobs report. In a statement on Wednesday, the Federal Reserve called the economy “strong.”

“Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low,” the Fed said. “Household spending and business fixed investment have grown strongly.” Therefore, a rate hike is still expected in September.

Sector Job Growth from the B.L.S.

Financial Activities +300
  • Month Over Month: +0.9%
  • 3 Month Average: 33
  • Year Over Year: +5.4%
Professional & Business Services -900
  • Month Over Month: -0.8%
  • 3 Month Average: 118
  • Year Over Year: +3.4%

Industry Job Growth from the B.L.S.

Finance & Insurance +100
  • Month Over Month: +0.5%
  • 3 Month Average: 22
  • Year Over Year: +3.3%
Real Estate & Rental & Leasing +1,300
  • Month Over Month: +2.2%
  • 3 Month Average: 60
  • Year Over Year: +1.2%
Accounting, Tax Preparation, Bookkeeping, & Payroll Services -400
  • Month Over Month: -1.7%
  • 3 Month Average: 25
  • Year Over Year: +3.1%
Employment Services -1,000
  • Month Over Month: -4.3%
  • 3 Month Average: 23
  • Year Over Year: +5.7%

Job Growth for All Sectors cannot vouch for the data or analyses derived from these data after the data have been retrieved from The BLS defines a sector as a subset of the domestic economy and excludes the economic activities of the following: general government, private households, and nonprofit organizations serving individuals. A sector consists of multiple industries. The BLS defines an industry as a group of establishments that produce similar products or provide similar services. Multiple industries makeup sectors.

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