The July 2022 Jobs Report: What is the Current U.S. Employment Situation?

The July jobs report is out with the latest U.S. job numbers, and we’ve finally returned to pre-pandemic metrics for total nonfarm employment (increasing by 528,000) and unemployment rate (down to 3.5%). The number of unemployed people also decreased by two million since June 2022. Furthermore, average hourly earnings increased by 0.5% compared to June 2022 and 5.2% over the past 12 months.

What industries are hiring now? Job growth was widespread across many sectors, with leisure and hospitality, professional and business services, and health care and social assistance leading the pack.

The labor department jobs report showed little month-over-month change regarding COVID’s impact on employment. Due to the pandemic:

• 7.1% of employees teleworked
• 2.2 million people reported being unable to work because their employer closed or lost business
• 548,000 job seekers were prevented from looking for work
   

Overall, July 2022’s U.S. jobs data are highly encouraging. Get in on the action whether you’re a job seeker or employer with iHire’s platform built to help you succeed.