The economy added 528,000 payroll jobs in July after a solid gain in June and May. The strong gains in the job market last month should further cement the claim that the U.S. is currently not in recession. As shown in the LPL Chart of the Day, both the three- and six-month moving averages rose in July since the last two months were revised higher. Job gains were broad-based and especially prominent in sectors such as education, health care, and government. Firms ramped up production and increased manufacturing payrolls by roughly 30,000 in July. New jobs in manufacturing are likely due to improved supply chains and ... (full story)