The nation’s job-creation machinery got cranking in July, says the latest Job Report.
The Labor Department’s Bureau of Labor Statistics (BLS) reports there were 209,000 new nonfarm payroll positions created last month, with the unemployment rate ticking down from 4.4% to 4.3%.
As it released the July figures, the government revised its May estimate of new jobs down from +152,000 to +145,000, and its June calculation up from +222,000 to +231,000. That works out to a net gain of 2,000 jobs in May and June from what was reported previously.
For the year thus far, employment growth has averaged 184,000 per month.
Who’s on the job
Among the major worker groups, the unemployment rates for adult men (4.0%), adult women (4.0%), teenagers (13.2%), Whites (3.8%), Blacks (7.4%), Asians (3.8%), and Hispanics (5.1%) showed little or no change.
The number of long-term unemployed — those out of work for 27 weeks or more — was little changed at 1.8 million in July and accounted for 25.9% of the unemployed.
The labor force participation rate (62.9%) showed little change in July and has been fairly steady over the past year. The employment-population ratio (60.2%) was also little changed in July but is up by 0.4% year-over-year.
Where the jobs are
Employment in food services and drinking places rose by 53,000 in July, while professional and business services added 49,000 jobs. Health care employment increased by 39,000, while mining, construction, manufacturing, wholesale trade, retail trade, transportation & warehousing, information, financial activities, and government showed little change.
Average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents in July to $26.36 and are up 65 cents, or 2.5%, over the year.
The complete report may be found on the BLS website.
The above was first reported by James Limbach of Consumer Affairs.