Nonfarm Payroll Employment Increases in 28 States in July
According to data released by the Bureau of Labor Statistics, nonfarm payroll employment increased in 28 states in July compared to the previous month. This positive trend indicates a gradual improvement in the labor market across the United States. While 22 states saw a decrease in employment, the overall outlook remains optimistic.
In July, New York, Florida, and California led the way in adding the most jobs, with 41,400, 21,800, and 21,100 jobs respectively. On the other hand, Missouri reported the steepest job losses at 22,400. Despite some fluctuations, the overall trend is positive, with 2.5 million jobs added nationwide since July of the previous year.
The construction sector also saw growth, with 29 states and the District of Columbia reporting an increase in construction jobs in July. Florida added the most construction jobs at 6,300, while New York saw a loss of 3,800 jobs. Year-over-year, the construction industry in the U.S. added 239,000 jobs, a 3.0% increase from the previous year.
FAQs
1. What is nonfarm payroll employment?
Nonfarm payroll employment is a measure of the total number of paid employees working in the U.S., excluding farm workers, government employees, private household employees, and employees of non-profit organizations.
2. How is nonfarm payroll employment data collected?
The Bureau of Labor Statistics collects data on nonfarm payroll employment through a survey of businesses and government agencies. This data is used to track employment trends and analyze the health of the labor market.
3. Which states saw the highest job growth in July?
New York, Florida, and California reported the highest job growth in July, adding significant numbers of jobs to their respective economies.
Conclusion
The increase in nonfarm payroll employment in 28 states in July is a positive sign for the U.S. economy. While there were some states that saw a decrease in employment, the overall trend remains positive, with job growth across various sectors. The construction industry, in particular, saw significant growth, indicating a strong demand for new construction projects. As the labor market continues to evolve, monitoring these trends will provide valuable insights into the state of the economy.