Today the US Job Report came out, showing nonfarm employers adding 255,000 jobs in July. This was well above expectations. Job gains are running at about 190,000 for the last three months. This will be bringing more people back into the labor force. Unemployment remains at a national rate of 4.9 percent. This reflects more people actively seeking work.
Other good news showed the average hourly wage increasing about 0.3% for July.
And this is exactly what I am seeing with my workload. The number of recruitments has been steady for the last 6-8 months, and wages are inching up. While I am not seeing a lot of new people enter the workforce, I am experiencing an extremely tight labor market. Right now it is a job seeker's market. Good time to be talking to a recruiter for career advancement. Call me!
For more on this, view Bloomberg's article here.
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