The 9,000-person advance in wholesale trade payrolls is consistent with what we are reading about the level of inventories in the economy. Gains were noted in all three components of this sector, those being durable goods (+6,000), nondurable goods (+2,200) and electronic markets (+1,300).

Year-to-date, we have added 84,400 jobs in this sector, which is 3.8% of the gain in total private hiring.

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