Some highlights from today’s Employment Situation report:
1. The increase in US payrolls over the last six months through July (1,465,000) was the strongest six months for hiring in the US since April 2006, see chart above (HT: Annalyn Kurtz). More than 200,000 new jobs were added in each of the last six months — the last time that happened was 1997!
2. Oil and gas extraction jobs increased in July to a 28-year high of 212,300, and were up by 7.5% compared to a year ago.
3. July construction payrolls increased by 22,000 from June to the highest level since May 2009, more than five years ago.
4. US manufacturers added 28,000 jobs in July, bringing factory payrolls to their highest level since March 2009.
5. Employment for the “Temporary Help Services” category increased in July to a new record high of 2.88 million jobs, an 8% increase over a year ago.