Staffing & Employment News from Redfish Technology
Double last month’s numbers
Payrolls rose 163,000 (private payrolls 172,000), over double last month’s increase. Government jobs fell by 9,000, construction fell by 1,000. The good-producing sector added 24,000 jobs, the service-providing sectors 148,000, and manufacturing 25,000. Temp jobs rose by 14,000.
The numbers came in a bit better than expected overall as companies hire at a modest pave. Nonetheless the unemployment rate went up incrementally from 8.2 to 8.3%,
While the Fed was discussing more quantitative easing, the Dow Jones reacted favorably to the jobs report.
The staffing industry lost 43,600 jobs (down 1.7%) from June to July according to the BLS, year over year however the industry has grown headcount by 10.9%. Recruiting trends are cyclical and July tends to be a slower month for hiring.
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