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United States

Report | United States Employment Update - July 2016

Summary

​June saw 287,000 net new jobs added to the U.S. labor market, a return to healthy growth after a weak May that saw gains revised downward to just 11,000 jobs. This is the highest monthly figure in eight months and will be reassuring to decision makers such as the Federal Reserve. Additionally, a 414,000-person increase in the labor force brought participation to 62.7 percent and pushed up unemployment slightly to 4.9 percent. Still below the 5.0 percent threshold, unemployment is beginning to approach its cyclical low and is already “full” for white-collar workers. In particular, many metro areas are posting unemployment below 4.0 percent. Accelerated job and office occupancy growth is likely in diversified markets, where unemployment currently ranges from 4.5 to 5.5 percent, before they too reach similar tightness.

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