Temporary Employment Gains 149K Jobs
Mountain View, California — July 2, 2020 — Total nonfarm employment in the US rose by 4.8 million jobs in June, per the seasonally adjusted data released today by the US Bureau of Labor Statistics (BLS), marking record-high gains coming on the heels of April’s unprecedented losses. The national unemployment rate declined from 13.3% to 11.1%.
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Fourteen of the 15 major industry groups posted job gains in June. The sectors most contributing to jobs growth for the month were Leisure & Hospitality (+2.1 million) and Retail Trade (+740,000), accounting for over half of the total June job gains. All of the 15 major industry groups are still down year-over-year, however.
Temporary help services employment reported a record gain of 149,000 jobs in June, following the record loss of 841,000 jobs back in April. Despite the gains this month, temporary employment is down 24% year-over-year. While there was no change to temporary help services employment for May, revisions to the temporary help services sector for April, from -841,000 to -833,200, increased previous estimates by 7,800 jobs. The temporary penetration rose from 1.58% in May to 1.63% in June, below the pre-pandemic level of 1.9%.
“The record employment gains this month, in total nonfarm employment as well as in the temporary help services sector, are encouraging signs of recovery on the horizon,” said Barry Asin, SIA President. “However, as some of the recent job losses are permanent, and some of the businesses that have shuttered during COVID-19 restrictions will not reopen, we can expect slower job gains following these higher-growth initial increases. There is also the risk that a second spike in the virus might force tough restrictions to be reinstated.”
SIA’s complete July Jobs Report analysis is available here.
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