Employment by Industry: Nearly a Million Workers Added to Payrolls in July

The U.S. labor market saw its best monthly performance in nearly a year in July, reported the U.S. Bureau of Labor Statistics (BLS). The latest data shows a flood of 943,000 new workers added to payrolls in July, as the American economy roared into midsummer.

With just under 3 million new jobs added from May through July, the U.S. labor market report was accompanied by a sharp drop in the unemployment rate to 5.4% – the lowest since the pandemic began – from 5.9% in June. Leisure and hospitality, the sector hit hardest by the pandemic, once again led the payroll recovery in July, adding 380,000 jobs, with two-thirds of the job gains in food services. Also seeing strong job growth in July were local government education, and professional and business services.

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.