Unemployment Drops but Slow Job Growth Disappoints
Chalk up the mediocre July jobs report to the dog days of summer. No sector of the economy showed much hiring energy as the Labor Department s overall count of non-farm employment during the month came in at 162,000 new jobs, well below the 185,000 or so economists were expecting. Neither the staffing industry nor healthcare two of the consistent growth areas now for many months added many workers; 7,700 for the former and 8,300 for the latter. Were it not for the reduction in the unemployment rate, which dropped from 7.6 percent in June to 7.4 percent, its lowest in nearly five years, the report would have been completely disappointing indeed. Besides the below-expectation job growth, the Labor Department: Revised downward its counts for both May and June, cutting 26,000 jobs from the previously robust numbers; Said the average hourly wage for all non-farm workers declined by 2 cents an hour, after rising
10 cents in June. The increase since July 2012 is 1.9 percent. Reported that the average weekly hours for all workers declined by .1 hour to 34.4; for manufacturing workers it dropped .2 hour to 40.6 hours. This isn t a disaster of a report but it shows the U.S. remains vulnerable to a slower economic growth performance, said Julia Coronado, chief economist for North America at BNP Paribas in New York. SHRM s LINE report this week, which attempts to predict hiring demand for the month ahead, says August is likely to be positive. In August, half of manufacturers and more than one-third of service-sector companies will conduct hiring, says the report, which calls August hiring rates strong. In the Labor Department s July report, the few bright spots were in retail, up by 47,000 jobs, and in the leisure and hospitality sector where bars and restaurants grew by 38,000. Both those sectors however, have the lowest average wage, and, in the leisure area, almost 40 percent of that gain was wiped out by job losses in hotels and motels, sports and performing arts, and related areas. Another, and somewhat surprising, growth area was the financial sector. The securities industry added 5,600 jobs in July, a demonstration of Wall Street s growing confidence and strength after several years of job losses. The broader financial activities sector, which includes Wall Street, accounting, insurance, real estate and similar industries, grew by 15,000 jobs. Manufacturing, which tends to seesaw more than most other sectors, added 6,000 jobs, which were offset by an equivalent number in the construction industry, which was a huge job loser in the recession. The reduction in the unemployment rate was at least one positive without an offsetting but. It represented a genuine reduction in the number of unemployed workers, who declined by some 260,000 to 11.5 million in July. A year ago, 12.7 million people were counted as out of work. Those working part time because they can t find full-time jobs was unchanged at 8.2 million and another 2.4 million are out of work, but not officially counted as unemployed. Together, these so-called U-6 unemployed come to
14 million, down 900,000 from a year ago. 管理新知 您可能感兴趣的文章 HR微语—人才招聘的4P策略 2012-07-09 Getting Aggressive 2011-09-07 HR们看过来，为您全面解析“社交招聘”三大难点和看点 2014-04-08 最近文章 嫖娼被抓不属无故旷工，公司解雇赔4万！（法院判决） 2018年01月15日 如何判断你是否具有HRBP胜任力？
2018年01月15日 阿里为什么不去清华招人？
2018年01月15日 因利益冲突，Facebook COO和Twitter CEO退出迪士尼董事会 2018年01月15日 沪调整城乡居民养老保险有关标准 24日前可就近办理 2018年01月13日 热门文章 嫖娼被抓不属无故旷工，公司解雇赔4万！（法院判决） 2018年01月15日 如何判断你是否具有HRBP胜任力？
2018年01月15日 阿里为什么不去清华招人？
2018年01月15日 2017年度职场出差行程调查，出差最多的居然是他们！！
2018年01月12日 员工在自己QQ空间评论HR经理吃屎，可辞退他吗？
2018年01月11日 扫一扫 加微信【已隐去】 关于沙龙 顾问委员 广告推广 隐私安全 联系我们 申请vip会员 支付方式 市场合作或广告投放 电话：【电话已隐去】 邮件：【邮箱已隐去】 在线QQ【已隐去】 VIP会员 企业VIP会员 机构VIP会员 广告刊例 商务合作 Follow HRSalon