Gallup’s monthly U.S. Job Creation Index reached a six-year high in July, continuing the upward trend that has been occurring throughout most of 2014.
July’s numbers reached +28, a point higher than June’s +27. This time last year the U.S. Job Creation Index was at +21.
The Job Creation Index measures the net percentage of U.S. companies who are hiring. Gallup polls American workers and calculates the U.S. Job Creation Index by taking the number of employees who said their company is hiring and subtracting the number of employees who say their company is downsizing.
Forty-one percent of American workers said their company was expanding in July and 13% said their companies were letting employees go, leaving a net score of +28.
In January 2008, Gallup began charting the country’s net hiring numbers. With the recession going on, the 2008 numbers were low, but things started improving in 2009.
Though the Job Creation Index has gotten better each year since 2009, the rate of improvement this year is especially high, Gallup says, with a nine point increase since January.
Net hiring in July reached +30 for non-government employees, representing 82% of those surveyed. For government workers, July’s Job Creation Index was +17.
Though the public-sector has a lower overall Job Creation Index than the private-sector, its number has increased more over the course of the year. In July of 2013, the public-sector was only scoring +4, 13 points less than it reached this July.
The public sector has increased its Job Creation Index number by six points since July 2013.
Forty percent of respondents said that their number of employees was unchanged in July. Last month marked the first time that more employees said their companies were hiring than the number of employees who said their companies’ numbers remained unchanged.
More than 17,000 Americans 18 years old or older were surveyed by Gallup for this study.
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