Nonfarm payrolls rose by a net 209,000 in July, in line with its average monthly gain over the past 12 months. Gains were driven by goods-producing industries, professional and business services, and the retail trade sector. Of the 58,000 jobs added in goods-producing industries, 28,000 came from manufacturing. (The bulk of this increase came from motor vehicles and parts payrolls, though seasonal adjustment may have inflated this number somewhat since many automakers that typically retool auto plants did not do so this month.) Construction added another 22,000 jobs. Professional and business services added 47,000 payrolls, most of which came from professional and technical services (especially architectural and engineering services) as well as administrative and support services (particularly employment services). Retail trade contributed 26,700 new payrolls, mostly from food and beverage stores, clothing and clothing accessories stores, and general merchandise stores.
Revisions to the previous two months’ estimates added 15,000 jobs on net. May was revised up from 224,000 to 229,000, and June was revised up from 288,000 to 298,000.
