What Does the Main Monthly Jobs Report Tell Us?
August Jobs Report Suggests State's Labor Market Remains Soft. According to the monthly business survey shown below, the state added 4,000 jobs in August, a soft figure in its own right, and the July report was revised down from +15,000 to -300. With net job losses over the past three months, the August jobs report suggests the state's labor market remains soft and has perhaps weakened slightly.
Alternative Household Survey Now Signaling Similar Softness. An alternative measure of the state's labor market, the monthly household survey shown below, has been more upbeat than the business survey for most of 2025. The household survey reported an average of 25,000 more employed workers each month through June, whereas the business survey reported about 5,000 fewer employees each month over that time. For July and August, however, the household survey has softened to more closely match the state's business survey.
A Closer Look at This Summer's Household Survey Hints at a Labor Market Losing Momentum. The state's household survey of workers and their employment was more upbeat than the business survey for most of the year. Starting in June, however, the household survey has shown a net decline in statewide employment and a slight uptick in the number of unemployed workers. For the two-month period July and August, the state's labor force grew by 17k, the number of employed workers fell by 7k, and the number of unemployed workers increased 24k. Although we interpret this recent shift with caution because the monthly household survey is a relatively small survey subject to bumpy swings, the two month trend since June has been an unmistakable departure from the more promising incoming data seen earlier this year.