West Palm Beach, FL Jobs Report

July 2019 Jobs Report

Jobs Added

Metro -400
  • Month Over Month: -0.1%
  • 3 Month Average: 200
  • Year Over Year: +2.3%
State +16,100
  • Month Over Month: +0.2%
  • 3 Month Average: 20,167
  • Year Over Year: +2.5%
National +164,000
  • Month Over Month: +0.1%
  • 3 Month Average: 139,667
  • Year Over Year: +1.5%

Unemployment Rate

Metro 3.6%
  • Month Over Month: +0.5%
  • 3 Month Average: 3.2%
  • Year Over Year: -0.3%
State 3.4%
  • Month Over Month: 0.0%
  • 3 Month Average: 3.43%
  • Year Over Year: -0.2%
National 3.7%
  • Month Over Month: 0.0%
  • 3 Month Average: 3.67%
  • Year Over Year: -0.2%

The unemployment rate remained stagnant at 3.7 percent, with an added 164,000 jobs in July, just 1,000 below the Dow Jones prediction.

Friday’s report also included revisions to previous data, adjusting May and June’s reports down by 41,000 jobs. June’s change dropped to 193,000 jobs, and May’s reading of 72,000 jobs was cut even further to 62,000. Following revisions, job gains averaged at 140,000 per month over the past three months.

With recent jobs reports coming in near economists’ expectations, analysts believe the data will bring little change regarding the Federal Reserve cutting interest rates. “Overall, this report won’t be enough to move the needle much in either direction as far as a September rate cut is concerned, but it reinforces our sense that another move next month isn’t yet as sure a thing as the markets are now pricing in,” Andrew Hunter, senior U.S. economist at Capital Economics.

As for the labor force participation rate, it unexpectedly ticked up to 63 percent, the highest level since March; showing that more workers are either employed or actively looking for work. Average hourly wages also rose 0.3 percent month-over-month, pushing the year-over-year wage growth to 3.6 percent.

Although the pace of hiring has slowed down, it seems as if employers are continuing to pull in workers from the sidelines.

Sector Job Growth from the B.L.S.

Financial Activities +200
  • Month Over Month: +0.5%
  • 3 Month Average: 43
  • Year Over Year: +4.1%
Professional & Business Services -200
  • Month Over Month: -0.2%
  • 3 Month Average: 118
  • Year Over Year: +3.5%

Industry Job Growth from the B.L.S.

Finance & Insurance -100
  • Month Over Month: -0.4%
  • 3 Month Average: 24
  • Year Over Year: 0.0%
Real Estate & Rental & Leasing -1,200
  • Month Over Month: -0.6%
  • 3 Month Average: 201
  • Year Over Year: +6.3%
Accounting, Tax Preparation, Bookkeeping, & Payroll Services +100
  • Month Over Month: +0.1%
  • 3 Month Average: 72
  • Year Over Year: +7.5%
Employment Services -200
  • Month Over Month: -1.2%
  • 3 Month Average: 17
  • Year Over Year: +1.8%

Job Growth for All Sectors

BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.

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