Research Brief: Employment – July 2024

Job creation supported by business-cycle-agnostic sectors. The creation of 206,000 jobs in June brings total net hiring for the second quarter to 532,000, the lowest three-month total for employment growth since January of 2021. Much of the recent hiring slowdown has come from industries tied to the business cycle, including net job losses recorded during June in both the professional and business services sector as well as retail trade. Year-to-date job creation has been stronger in more cyclically agnostic fields such as…

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