Total nonfarm payroll employment increased by 187,000 in July.
The federal unemployment rate dropped by 0.1 percentage point to 3.5 percent.
Job gains occurred in health care, social assistance, financial activities, and wholesale trade.
The unemployment rate has ranged from 3.4 percent to 3.7 percent since March 2022.
The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 1.2 million in July.
Looking Forward:
As overall job gains slowed, the labor market remains healthy (albeit perhaps too warm for the Federal Reserve’s liking) Wages picked up at a higher rate than forecast, with a 4.4% increase from the year-ago period. The unemployment rate fell and remains near the lowest in decades. Participation remained at 62.6% for the fifth straight month.
There were signs of cooling throughout the report, though: Temporary help services continued their slide, average hours worked ticked down, and some categories that led the boom in job growth in the post-pandemic period continue to cool, including manufacturing and transportation/warehousing.
One less-than-friendly aspect of the employment data was the downward revision to the June figure. This means that every single payroll release in the first half of the year has been revised lower. That is the longest streak of downward revisions since the Global Financial Crisis, and funny enough comes after a streak of six upward revisions in the second half of last year.
It seems like most analysts are in agreement that the labor market is slowing down and will probably continue to do so. Less clear is how meaningful the decline so far will be for the Fed and inflation debate.
Total nonfarm payroll employment increased by 209,000 in June.
The federal unemployment rate dropped by 0.1 percentage point to 3.6 percent.
Employment continued to trend up in government, health care, social assistance, and construction.
The unemployment rate has ranged from 3.4 percent to 3.7 percent since March 2022.
The number of persons employed part-time for economic reasons increased by 452,000 to 4.2 million in June.
Looking Forward:
The June job gains, released Friday, were nearly 100,000 positions below May’s stronger-than-expected showing of 306,000 and fell below economists’ expectations for a net gain of 225,000 jobs. It’s the lowest monthly gain since a decline in December 2020. June’s total is the smallest since December 2019. That being said, last month’s job growth still outpaces the pre-pandemic average.
Federal Reserve policymakers are keenly focused on the strength of the labor market as they debate how much further the economy needs to cool to ensure that quick inflation fades back to a normal pace. Fresh labor market data released on Friday probably offered little to dissuade them from raising interest rates at their meeting this month. The June data is the last payrolls report that officials will receive before the central bank’s July 25-26 meeting.
There are indications of some slowing in other industries. In June, the number of people employed part-time for economic reasons grew by 452,000 to 4.2 million, an increase that was partially reflective of people “whose hours were cut due to slack work for business conditions,” the BLS noted in Friday’s report.
Total nonfarm payroll employment increased by 339,000 in May.
The federal unemployment rate rose by 0.3 percentage points to 3.7 percent.
Job gains occurred in professional and business services, government, health care, construction, transportation and warehousing, and social assistance.
The unemployment rate has ranged from 3.4 percent to 3.7 percent since March 2022.
The number of job losers and persons who completed temporary jobs increased by 318,000 to 3.0 million in May.
Looking Forward:
“The U.S. labor market continues to demonstrate grit amid chaos – from inflation to high-profile layoffs and rising gas prices,” said Becky Frankiewicz, president and chief commercial officer of Manpower Group. “With 339,000 job openings, we’re still rewriting the rule book and the U.S. labor market continues to defy historical definitions.”
Recent data has shown that consumers continue to spend, though they are dipping into savings and increasingly using credit cards to pay for their purchases. A resilient labor market also has helped underpin spending, with job openings rising back above 10 million in April as employers still find it difficult to fill open positions.
Other data points have shown that the manufacturing sector is in contraction, though the much larger services sector has held in expansion. The ISM manufacturing index released Thursday also showed that prices are pulling back, a positive sign for the Fed.
Policymakers have signaled that they may skip another rate hike at their meeting later in June as they examine how tighter monetary policy is affecting the economy. However, some officials have hinted they are open to raising rates for the 11th straight time.
Total nonfarm payroll employment rose by 253,000 in April.
The Federal unemployment rate edged down to 3.4 percent.
Employment continued to trend up in professional and business services, health care, leisure and hospitality, and social assistance.
Both the unemployment rate, at 3.4 percent, and the number of unemployed persons, at 5.7 million, changed little in April. The unemployment rate has ranged from 3.4 percent to 3.7 percent since March 2022.
The number of job losers and persons who completed temporary jobs decreased by 307,000 in April to 2.6 million.
Looking Forward:
Wall Street opened sharply higher following the jobs news, with the Dow Jones Industrial Average gaining nearly 400 points, while Treasury yields jumped as well. The move higher followed a strong earnings report from Apple and a powerful rebound in banking stocks.
Despite the bank troubles and recession fears, the Federal Reserve this week raised its benchmark interest rate another quarter percentage point, taking it to its highest level since August 2007. Fed Chairman Jerome Powell acknowledged that higher interest rates were pressuring households, though he noted that the labor market has remained strong.
Another encouraging sign for the Fed is that more Americans are looking for work. The more workers who are available to employers, the less pressure employers face to raise pay.
Steadily rising borrowing costs have inflicted some damage. Pounded by higher mortgage rates, sales of existing homes were down 22 percent in March from a year earlier. Investment in housing has cratered over the past year. America’s factories are slumping, too. An index produced by the Institute for Supply Management, an organization of purchasing managers, has signaled a contraction in manufacturing for six straight months.
J & J Staffing is always looking for ways to expand our reach in the professional staffing world and ensure our clients keep their businesses running smoothly. One way we are working on that is by expanding our reach, our expertise, and our capabilities within healthcare support positions.
In recent years, the healthcare industry has been booming, which has created a more significant need for support-related positions. Doctors and nurses are feeling overwhelmed and overworked. By creating support positions, hospitals and other healthcare facilities give their professionals room to breathe while not cutting back on patient care.
With these expansions, healthcare providers have found themselves scrambling to hire the correct support staff in a timely manner. This is where J & J Staffing feels they can help with the void. We have been a successful, well-respected staffing agency for over 50 years. We know the ins and outs of each industry and strive to ensure the right people find the right jobs.
Why Use Healthcare Support Staff?
When expanding your staffing options to include support positions, it’s important to understand how such roles can help your organization. First and foremost, as we stated before, these positions allow your doctors and nurses to perform their duties without feeling overwhelmed by the more minor responsibilities such as paperwork or facility organization.
One significant way support staffing can help your business is financially. Hiring a support staff creates an efficiency that can ultimately reduce wasted expenses. Suppose your doctors, nurses, and other professionals don’t have to worry about maintaining the appearance and upkeep of your facility. In that case, they can spend more time assisting clients and patients. Overwhelmed staff often equates to mistakes being made that create more of a financial strain than if everyone shares in the workload.
Support staff can also ensure that the correct staff is doing the correct jobs. This increases your efficiency and the quality of your workforce. Knowing that the people performing the support duties are experienced in those positions ensures your staff can trust each other and focus on their assigned job. This means that a system can be implemented where the most work is being performed within the business day, thereby creating an efficiency that can’t be denied.
A Healthcare Staffing Agency Your Best Option
Staffing agencies are here to make your job easier. So, working with one means a larger pool of candidates and a streamlined process.
Most businesses don’t have a person whose sole job is to seek out potential candidates for open positions. Therefore, the hiring process takes longer, and you aren’t guaranteed to get the best people for the job.
By working with an agency whose sole purpose is hiring the most qualified individuals for healthcare positions, you guarantee that your staff are people you can rely on. Healthcare staffing agencies will screen each applicant, speak with them extensively about their skills, and determine what position they are best suited for. All in a matter of days, instead of the potential weeks, it would take a healthcare center to complete the process.
And, because the purpose of a staffing agency is getting people the jobs they desire, they have access to more potential candidates than a business would. This further ensures that the candidates being placed in your organization are the perfect fit for your needs.
Healthcare Support Roles With Us
Healthcare support roles assist and support healthcare professionals, such as doctors, nurses, and therapists. These roles require diverse skills, including communication, interpersonal, and technical. Healthcare support roles encompass a broad range of positions.
J & J Staffing is recruiting for healthcare administrative, clinical, facility, and professional services positions. This means we can assist you with jobs that range from janitorial to reception to x-ray technicians to IT professionals. Only some people who work in the healthcare industry have a position that focuses on medical care, which is why we are the perfect fit to provide staffing coordination.
If you are a provider with some healthcare support positions that need filling, we have many roles we cover.
Healthcare Administrative Staff
Reception
Administrative Assistant
Customer Service
Data Entry
Medical Secretary
Healthcare Clinical Staff:
Medical Assistant
X-Ray Technician
Phlebotomist
Certified Nursing Assistant
Healthcare Facility Staff:
Maintenance
Janitorial
Logistics
Supply Clerk
Healthcare Professional Staff:
Human Resource Professionals
Information Technology Professionals
Sales and Marketing Professionals
These are a few of the possible options you can count on us for. If you don’t see your position on this list, contact our experts, and we can discuss it.
How Much Scope Does Our Staffing Assistance Cover?
J & J Staffing has been caring for staffing needs for hospitals, rehabilitation facilities, physician groups, and urgent care facilities for a few decades. Our customers have all been impressed with how much our assistance saves them with cost and time.
We provide temporary staff, temporary-to-hire staff, and direct-hire staff. Whatever your needs are, we can make the process smoother and less time-consuming. Our staffing expertise is put to use when getting your positions filled and beyond that to ensure they have everything you need for them to start work as soon as possible. This includes helping you with criminal background checks, drug screenings, reference checks, and verification of certifications and social security. Because we handle the hiring, you only have to worry about getting them ready to work.
Contact J & J For All Your Healthcare Staffing Needs
J & J prides itself on living by our slogan, “Let’s get to work.” We genuinely believe that time wasted is money wasted. Our experts are here to help you fill positions and get qualified candidates into the jobs they desire. Having this seamless transition between us and you can mean the difference between an efficient healthcare process for the patient and not.
If you are ready to get the ball rolling or still have some questions about getting started, we can help. Contact us today, and we will get your business back on track.
Staffing Services In Greater Philadelphia
J & J Staffing Resources is a professional staffing agency that connects local businesses to job seekers throughout the Greater Philadelphia area, including Pennsylvania, New Jersey, and Delaware.
We bring over 45 years of expertise in office, industrial, technical, and professional staffing placements as well as payroll management, and offer a wide range of services for both employers and job seekers.
Need help? J & J Staffing has offices in Newark, Bridgeport, Woodbury, Cherry Hill, Ewing, Princeton, Langhorne, and Horsham. Visit your local J & J staffing center or get started below.
2023 will be a big year for J & J Staffing, which includes significant benefits for our clients as well. Many don’t know that we offer the option for their employees to be paid through J & J, and we hope that this year will change all of that. Our staffing services have been the bulk of what we do for many years. Now, we want to expand that service to include handling payroll for those we serve.
Over the years, we have seen how much our staffing services have helped our clients keep their businesses going. This has inspired us to work with them even further to ensure all their needs are being met with the most significant benefits possible. This is why we started offering to help them with payroll for the staff we help hire. Until now, few clients know that we offer this service; therefore, we are making it more well-known.
What exactly do our Payrolling Services entail?
To be honest, it is what it sounds like. With each of our clients, J & J offers to put their staff on our payroll and handle all their income-related needs. Think of it this way your people, J & J’s payroll. Offering this service to our clients allows them to focus on their day-to-day business needs instead of worrying about how their staff gets paid.
This means J & J assumes all legal obligations for employees’ wages, payroll deductions, unemployment insurance, and workers’ compensation. Ultimately, this works out best for you because it saves you time and headache, while we get to live our slogan further, “let’s get to work.”
Who do we offer this service to?
J & J wants to ensure that all our clients can benefit from as many of our services as possible. Therefore, when creating our payrolling options, we made sure to include as much variety as possible. This way, all kinds of positions can benefit, and our clients get the most out of partnering with us.
Ultimately, our services are convenient for seasonal, part-time, and full-time employees. The list of which is extensive and includes: research staff, family members, flex-time workers, freelancers, interns, employees onsite with your customer, brought back laid-off employees, brought back retirees, special projects staff, and students.
It comes down to which of your employees work for an hourly wage and requires the coordination of time cards and pay scales to determine their check each pay period. J & J is here to ensure that the responsibility of keeping everyone’s wages straight isn’t on your shoulders – especially if you are only hiring for a particularly busy season. As a business owner, you don’t have the time to chase after all that paperwork, but we do.
This doesn’t mean we are like other payroll companies that simply provide a means for you to input data and pay your employees. No, J & J is the payroll. You give us a list of your employees and all their pertinent information, we put them on our payroll, and provide them with their wages.
What are the Benefits of Switching?
First and foremost, it is important to remember that we are here to help make your life easier. Our payrolling services are available so that you can focus your efforts and attention on the tasks that matter most to your business.
No one has the time to keep track of time cards and benefits paperwork, and then calculate each person’s earnings. Not while also running a business. That is why choosing J & J to handle all the cumbersome parts of hiring people is the best option for 2023. You just worry about how they will fit in with your workforce.
We know that for every business decision, you must weigh the potential benefits. Our payrolling services offer up four great ones: easier budgeting, quicker onboarding, legal compliance, and seamless transitions.
Easier Budgeting: Often, when we have part-time, temporary, seasonal, or even hourly full-time employees, gathering the information needed to calculate their paychecks is tedious and time-consuming. With J & J, we handle all of that and send you a weekly invoice. This way, you are only worrying about how we fit into your budget instead of all the other woes of taking on payrolled employees.
Quicker Onboarding: Our process means that employee onboarding is streamlined and quick. There will be less downtime between choosing an individual and them getting started as an employee. We handle all the screening and testing that is required before a person can start work.
Legal Compliance: As stated before, J & J will take full responsibility for everything legal related to the hiring of these employees. You can have peace of mind knowing that everything about our hiring and compensation process is within federal, state, and local laws.
Seamless Transitions: Once you decide to make employees permanent, you can seamlessly transfer them from our system to yours at no cost. This ensures that everything transitions without any awkward limbo period.
Connect with J & J
Figuring out the ins and outs of what you should do about staffing and how to compensate them can be tedious and stressful. Let us help relieve that strain by taking on the responsibility. Our experts would love to speak with you about all your staffing options. Give us a call today.
Staffing Services In Greater Philadelphia
J & J Staffing Resources is a professional staffing agency that connects local businesses to job seekers throughout the Greater Philadelphia area, including Pennsylvania, New Jersey, and Delaware.
We bring over 45 years of expertise in office, industrial, technical, and professional staffing placements as well as payroll management, and offer a wide range of services for both employers and job seekers.
Need help? J & J Staffing has offices in Newark, Bridgeport, Woodbury, Cherry Hill, Ewing, Princeton, Langhorne, and Horsham. Visit your local J & J staffing center or get started below.
Total nonfarm payroll employment rose by 236,000 in March.
The Federal unemployment rate edged down to 3.5 percent.
Employment continued to trend up in leisure and hospitality, government, professional and business services, and health care.
Both the unemployment rate, at 3.5 percent, and the number of unemployed persons, at 5.8 million, changed little in March. These measures have shown little movement since early 2022.
Among the unemployed, the number of permanent job losers increased by 172,000 to 1.6 million in March, and the number of reentrants to the labor force declined by 182,000 to 1.7 million.
Looking Forward:
Nonfarm payrolls growth in March was about in line with expectations, but showed signs that the jobs picture is in the early stages of a slowdown. Though it was close to what economists had expected, the total was the lowest monthly gain since December 2020 and comes amid efforts from the Federal Reserve to slow labor demand in order to cool inflation.
In separate reports this week, companies reported that layoffs surged in March, up nearly 400% from a year ago, while jobless claims were elevated and private payroll growth also appeared to slow. The Labor Department also had reported that job openings fell below 10 million in February for the first time in nearly two years.
The job gains came during a month in which the failure of Silicon Valley Bank and Signature Bank rocked the financial world. Economists expect the banking troubles to have repercussions in coming months.
Several Fed officials said this week they remain committed to the inflation fight and see interest rates staying elevated at least in the near term. Market pricing shifted following Friday’s report, with traders now expecting the Fed to implement one last quarter percentage point hike in May.
Total nonfarm payroll employment rose by 311,000 in February.
The Federal unemployment rate edged up to 3.6 percent.
Notable job gains occurred in leisure and hospitality, retail trade, government, and health care. Employment declined in information and in transportation and warehousing.
Both the unemployment rate, at 3.6 percent, and the number of unemployed persons, at 5.9 million, edged up in February.
Long-term unemployed (those jobless for 27 weeks or more), at 1.1 million, changed little in February and accounted for 17.6 percent of the total unemployed.
Looking Forward:
Job creation decelerated in February but was still stronger than expected despite the Federal Reserve’s efforts to slow the economy and bring down inflation.
Though the jobs number was stronger than expectations, February’s growth represented a deceleration from an unusually strong January. The year opened with a nonfarm payroll gain of 504,000, a total that was revised down only slightly from the initially reported 517,000. December’s total also was taken down slightly, to 239,000, a decrease of 21,000 from the previous estimate.
Leisure and hospitality led employment gains, with an increase of 105,000, about in line with the six-month average of 91,000. Retail saw a gain of 50,000. Government added 46,000, and professional and business services saw an increase of 45,000.
The jobs report likely keeps the Fed on track to raise interest rates when it meets again on March 21st. But traders priced in less of a chance that the central bank will accelerate to a 0.5 percentage point increase, dropping the likelihood to 48.4%, or about a coin flip, according to a CME Group estimate.
Total nonfarm payroll employment increased by 517,000 in January.
The federal unemployment rate edged down to 3.4 percent.
Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and health care.
The employment-population ratio increased by 0.2 percentage points over the month to 60.1 percent and the labor force participation rate was little changed at 62.4 percent.
Long-term unemployed (those jobless for 27 weeks or more) was unchanged at 1.1 million. The long-term unemployed accounted for 19.4 percent of the total unemployed in January.
Looking Forward:
The American labor market unleashed a burst of hiring in January, producing another wave of robust job growth even as interest rates continue to rise. Underscoring the labor market’s extraordinary vibrancy was the unemployment rate, which fell to 3.4 percent, the lowest since 1969.
Even as businesses across the country hired with unexpected zeal, wage growth slowed slightly to 0.3 percent compared with December, an indication that some of the pressure to lure employees with pay raises may be easing.
The labor market has remained extraordinarily tight. In addition to the report on Friday, the government released data this week showing that the number of posted jobs per available unemployed worker — a measure that policymakers have been watching closely, rose again in December. And despite a cavalcade of layoffs in the technology sector, the overall number of pink slips has stayed extremely low.
The information sector lost 5,000 jobs, a relative blip despite headline-grabbing news of layoffs at technology giants such as Microsoft and Google. Many forecasters expect the labor market to also slow this year as the Fed’s rate moves filter through the economy.
