SIA’s August US Jobs Report shows that the employment market remains solid across key sectors in the market.
On a seasonally adjusted basis, total nonfarm employment increased by 209,000 in July, according to the US Bureau of Labor Statistics (BLS) in its monthly jobs report. While the unemployment rate remained essentially unchanged at 4.3% in July, it was the second consecutive month of gains of more than 200,000 temporary help services employment increased by 0.49% in July, adding 14,700 jobs, pushing the temporary agency penetration rate to a new all-time high of 2.069%.
The economic sectors that most drove total nonfarm employment growth in July included leisure & hospitality (up 55,000), healthcare (up 36,800) and professional services (up 33,200 excluding temporary help). The only sector to lose jobs on the month was information (down 7,000). As a result of these increases in employment, the candidate driven market is expected to continue, and organizations will be under ongoing pressure to attract and retain talent.