Report | United States Employment Update - July 2016
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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