Highs and Lows in the July Jobs Report

by Modis on August 1, 2014

2014 July Employment Situation

Par the course from the last several months, the U.S. Bureau of Labor Statistics National Employment Situation report indicated sustained growth in the number of those employed in the United States. On the positive side, the July jobs report shows 209,000 new jobs. This streak of 200,000 or more jobs a month marks the sixth in the last seven months and is the longest since 1997.

On the downside, the unemployment rate rose 0.1 percentage point from June to 6.2%. Despite the rate increase, the unemployment rate over the past 12 months has still declined 1.1 percentage points and the number of unemployed persons has been reduced by 1.7 million.

Both May and June jobs numbers were revised up, from 224,000 to 229,000 and 288,000 to 298,000, respectively.

The Focus on IT Growth in July’s Job Report

The sector that encompasses IT, Professional and Business Services, continued to lead the nation in job growth with an added 47,000 jobs in July and 648,000 jobs over the past 12 months. More than 3 million people were employed in July specifically in IT, with 6,000 new jobs added for the month. Of the 6,000 new IT jobs, 3,900 came from Computer systems design and related services and 2,700 were in Management and technical consulting services.

In anticipation of this jobs report, Quartz compiled a group of economically significant charts that take a deeper look at the employment situation in the United States. The charts take into account the private sector’s success as well as the number of job postings online among other important factors.

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