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Economy Review

United States

Report | U.S. Employment Update - June 2013

Summary

The U.S. economy added 175,000 jobs in May, continuing the year’s stable levels of monthly growth, while unemployment increased by 10 basis points to 7.6 percent. Gains remain diversified, with office-using jobs contributing slightly more than one third of monthly growth as leisure and hospitality, healthcare and retail trade post equally strong improvements. Tech remains consistent and posted year-on-year employment increases of 4.3 percent, although energy continues to slow down from its peak of 11.0 percent growth. Other trends seen throughout the recovery, such as faster employment growth in Western and Sunbelt metros than in the Midwest and Northeast, still hold true. We expect that monthly growth throughout 2013 will remain stable and slowly growing, in line with the momentum building in the office market as it moves farther into a new phase of transition.

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