Job growth slowed in July after a red-hot labor market in the first half of the year
May's job growth was also revised to the BLS' final estimate of 281,000, down from the previously revised gain of 306,000 in the previous employment report, which was a smaller gain than thePrivate education and health services saw a one-month job gain of 100,000, with healthcare and social assistance seeing a gain of 87,100. Leisure and hospitality, construction, and financial activities are some of the other industries that saw job growth.
"Today's report shows that the job market is on a slow but steady path towards the soft landing," Daniel Zhao, lead economist at Glassdoor, told Insider. "And so yes, while the wage growth number came in hot, it isn't necessarily unsustainable given recent productivity data," Pollak added. The employment-population ratio was yet another data point that was little changed in July. That ratio was 60.4% in July, up from 60.3% in June. Both the"number of persons employed part time for economic reasons" and"the number of persons not in the labor force who currently want a job" were noted in Friday's BLS report as little changed too.
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