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Employment increases at a slower pace

Intelligent Economics > Analysis > Employment increases at a slower pace

Employment for the month of July totaled 947,600, a 2.6% increase compared to July 2022. This is the slowest increase since April 2021. On the other hand, the unemployment rate held at 6.2% in July.

In the private sector, 20,100 jobs were created, a year-on-year increase of 2.8%, the smallest increase since the pandemic. Meanwhile, government employment rose 2.2%.

When compared to last year, employment grew in Recreation and Lodging (6,800); trade, transportation and utilities (3,900); construction (3,800), educational and health services (3,500); manufacturing (1,300) and professional and business services (200).

Employment increased 4.9% in 2022, the second consecutive annual increase. The number of people employed rose to 919,600, the highest number since 2013.

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