Jobs Report Exceeded Expectations -Hospitality #1!

For the second month in a row, the released a jobs report that exceeded expectations. The new July report, showed a total of 75,000 more jobs than economists were expecting (255,000 vs. 180,000 expected).

It further showed that the Hospitality Industry was the leading industry for hiring.

Here are three things to know from today’s report:

1. What do today’s numbers mean looking at the big economic picture? Here are some reactions from leading news outlets:

According to The Wall Street Journal:

The U.S. labor market in July capped off the best two-month stretch of hiring so far this year, a sign of strength for an economy that has been showing mixed growth signals in recent months.
According to CNBC:

“This was another strong report that checked most, if not all of the significant boxes,” said Curt Long, chief economist at the National Association of Federal Credit Unions. “The labor market should remain strong as long as consumers maintain their robust spending pace.”
2. The labor force participation has increased. But what does that mean?

According to Business Insider:

The labor-force participation rate rose to 62.8%. It was being closely watched again to gauge whether a record number of job openings drew people into the labor force. The rate has steadily declined in recent years, partly because of baby-boomer retirements. But at the same time, there are fewer people outside the labor market finding jobs — suggesting that the economy is near or at full employment.
3. What about wages and the Fed? Wages haven’t really been the bright spot in previous reports, but there has recently been slight progress on that front.

According to Marketwatch:

The much stronger than expected increase in new jobs also raises the odds that the Federal Reserve might raise interest rates as early as September. The central bank held off after job creation appeared to slow in May.
According to The New York Times:

June’s gains were revised upward by 5,000 jobs, and May by 13,000. The combination of better gains in the spring and July’s jump in hiring suggest that the Federal Reserve may take a fresh look at raising interest rates when it meets in September.

Back

What Clients Say About Patrice & Associates

  • Hospitality Recruitment agency – your friend

    Marcel was a wonderful help in this process. He reached out to me with impeccable timing on my side and guided me through what is usually an arduous task of looking and searching for the next step. Thanks to Marcel, I didn't have that anxiety that usually comes with looking for a new job. He provided me with all the help I needed and guided me along the way with advice about the company as well as how best to present myself. Never once did I feel pressured or uneasy. Marcel was truly helpful and I'm grateful for the opportunity to have worked with him. Mahalo, Samantha "I'm grateful for the opportunity to have worked with him."
  • Let Your Personal Career Coach help you FOR FREE

    I wanted to reach out and tell you about Chris Giles. Since the moment he started working with me to find the right job Chris has given me 100% support in helping me find a job. Out of all the recruiters I have worked with Chris is the only one who would reach out to me every couple of weeks to update me on what he has coming in or if he didn’t have anything at the moment.He has kept me in the loop since the beginning. This shows me how much he cares about his job and his clients. I couldn’t have asked for a better recruiter from your company. Thank you Chris for helping me find the right job. I was loosing hope but you restored it. Thank you Justin Brown "I was loosing hope but you restored it. "
  • Patrice & Associates Hospitality Recruitment Worked for me!

    Thank you for the opportunity to express my satisfaction with Chris Jones.  Chris was very professional from the very beginning and always kept me updated on the progress with the company. It was a very stress free process, and I truly recommend Chris to anyone in need of a new career. Thank you Chris you are awesome!!   please use this as you see fit   sincerely, Chris Lodes Patrice & Associates Hospitality Recruitment Worked for me!
  • Let Your Personal Career Coach help you FOR FREE

    Vicki Gladson is always prompt, professional and honest.  This is my second time using Patrice and Associates as a recruiting agency.  I have developed a rapport with Vicki and I have confidence in her abilities to find the right job opportunity for me.  As my career goals have taken a different direction, Vicki was there to help navigate me through process of finding a great job with the upward advancement opportunities.

    Thank you Vicki, Charla Hospitality Recruiting at it's finest!
  • Career Coaches that help you for FREE I really enjoyed working with David Israel, he was very friendly and professional throughout the process of my new job opportunity. David was always following up and helping me prepare for each interviews, for example, sharing specific interview questions, providing valuable points of view, and encouraging me to do research for the company I was applying for. He was fully committed in my future that I felt I was his only client. If you are looking for someone to help you go the next level in your career, I highly recommend David Israel to be the guy to help in your journey. Juan Perez Career Coaches can help you for FREE