Services are the engine of employment growth in USA for July 2016

The employment growth in US private sector for July 2016 was higher than expected, but almost all the new jobs are in the service sector. Companies add 179,000 new jobs in the seventh month of the year amid forecasts for 170,000. There acceleration compared to June, when growth was revised in 4,000 up to 176,000. The bad news comes from the fact that the growth of new jobs in the private sector is not balanced. The services sector added 185,000 new positions, but companies in industrial production lose 6,000 jobs. During the construction it has decreased by 6,000 positions, while industry added 4,000.

The employment growth remains strong, but goes to a moderate pace as the economy is directed towards full employment. The businesses are struggling to fill vacancies that are near record levels. The biggest economic problem of the country will soon be a lack of staff.

Although virtually ensure overall growth of employment services added fewer jobs than in June, when the sector recorded a growth of 203,000 new jobs. On Friday will be published official data on United States Department of Labor. Last month, the increase was 287,000 new appointments.

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