Another 209,000 Jobs Added in July, Consumer Confidence Measures Mixed
In other economic news pertinent to foodservice:
- Total nonfarm payroll employment grew by 209,000 jobs in July, according to preliminary data from the U.S. Bureau of Labor Statistics, released Aug.1. The unemployment rate ticked upward to 6.2% as more discouraged workers returned to the labor market. In leisure and hospitality, 21,000 jobs were created. The pace of job growth in the sector, one of the most robust during the past two years, has slowed somewhat the past two months. The BLS revised upward job gains in May and June by a total of 15,000.
- The two major measures of the U.S. consumer confidence were mixed for July. The Conference Board Consumer Confidence Index rose to 90.9 in July, up from 86.4 in June. It was the highest level the index has achieved since October 2007. The research group’s Expectations and Present Situation Indexes also rose. The Thomson Reuters/University of Michigan Consumer Sentiment Index fell marginally in July, to 81.8 from 82.5 in June.