Posted by Paladin on August 05, 2016
An employment summary based on the U.S. Bureau of Labor Statistics’ (BLS) July 2016 monthly jobs report.
After picking up last month, private-sector employment showed a second consecutive month of job gains — reinforcing again that the weak May nonfarm-payroll report was just a temporary dip.
The Bureau of Labor Statistics’ jobs report showed that 255,000 private-sector jobs were added in July, far exceeding economists’ expectations for a gain of 179,000 jobs.
Let’s break down the national numbers from this month’s jobs report:
Employment for May was revised from +11,000 to +24,000, and the change for June was revised from +287,000 to +292,000. With these revisions, employment gains in May and June combined were 18,000 more than previously reported. Over the past 3 months, job gains have averaged 190,000 per month.
In July, hourly wages rose $0.8 to $25.69 per hour, bringing the year-over-year wage percentage increase to 2.6%. The unemployment rate increased month-over-month and now sits at 4.9%.
- $25.69 July
- $25.61 June
- + 8 cents month-over-month
- +2.6% year-over-year
- 4.9% July
- 4.9% June
- +0% month-over-month
- -0.4% year-over-year
In-Depth Look: Creative and Marketing Jobs
Taking a closer look at the industries subsectors:
- Month-over-month: +2,100
- Year-over-year: +1,700
- Motion Picture and Sound Recording
- Month-over-month: -400
- Year-over-year: +21,200
- Data processing, hosting and related services
- Month-over-month: -2,300
- Year-over-year: -300
- Month-over-month: -700
- Year-over-year: -2,700
- Specialized Design
- Month-over-month: +600
- Year-over-year: +8,200
- Month-over-month: 3,400
- Year-over-year: +15,200
The market remains extremely competitive for employers hoping to hire top creative and marketing professionals. But there are some things you can do to establish your business in the marketplace as a great place to work. To get ahead of your competitors and add exceptional professionals to your workforce, make sure you are offering a competitive salary. Request a free copy of our 2016 Salary Guide – a comprehensive resource for salaries across the industry – to get the latest salary insights that will help you hire the industries top professionals.