The jobs market is stronger today than it was last month, or even last week – numerically speaking, at least – according to the latest figures released today by the Bureau of Labor Statistics.
The overall market added 255,000 new jobs in July, well ahead of forecasts of about 185,000. The three-month average is now up to 190,000, with the unemployment rate still at 4.9%. Manufacturing added 9,000 jobs in the month, and was the beneficiary of an upward revision for June from 14,000 to 15,000.
“The improvement still left the industry in its longest jobs slump since the Great Recession, as employment remained down on net since January 2015,” economist and researcher Alan Tonelson said.
