Economics - US Non-Farm Payrolls

US Non-Farm Payrolls - August 3, 2012

Some welcome good news in the US labour market this morning. Employment data for July showed that the US economy added 163,000 new jobs, a jump from June's anemic 64,000 jobs. The US unemployment rate remained ticked slightly higher to 8.3 per cent as new additions to the labour force offset gains in employment.  

Despite slightly better employment growth, economic growth in BC's largest trading partner remains stagnant. Second quarter US real GDP growth registered just 1.5 per cent in the second quarter and we expect the US economy to expand just 2.3 per cent overall in 2012. 

For more information, please contact: 

Cameron Muir
Chief Economist
Direct: 604.742.2780
Mobile: 778.229.1884

BCREA represents 11 member real estate boards and their approximately 18,000 REALTORS® on all provincial issues, providing an extensive communications network, standard forms, economic research and analysis, government relations, applied practice courses and continuing professional education (cpe).

Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: “Copyright British Columbia Real Estate Association. Reprinted with permission.” BCREA makes no guarantees as to the accuracy or completeness of this information.

To change your email address, subscribe to more BCREA publications or unsubsbribe from this distribution list, click here.