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United States

Report | United States Employment Update - August 2016

Summary

​The U.S. economy recorded another healthy month with 255,000 net new jobs in July after a volatile first quarter and next to no growth in May. Additionally, revisions to the trailing three months were positive, indicating that there is still momentum in the labor market. As the unemployment rate nears its cyclical low, sitting at 4.9 percent, competition for talent has increased in turn, pushing up wages in many industries beyond 3.0 percent annually. Similarly, employee confidence has risen and the quits rate has jumped by 6.0 percent over the past 12 months. Although the global economy continues to suffer from uncertainty, we expect this momentum to remain stable domestically as the U.S. is largely insulated from many potential shocks.​

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