The US Bureau of Labor Statistics (BLS) reported that total nonfarm payroll employment was 187,000 in July, and the unemployment rate was little changed at 3.5%.
The creation of jobs occurred in the health care, social assistance, financial activities and wholesale trade.
According to BLS data, both The unemployment rate, at 3.5%, like the number of unemployed, at 5.8 million, changed little in July. The unemployment rate has ranged from 3.4% to 3.7% since March 2022.
Among the main groups of workers, the unemployment rate for Asians fell to 2.3% in July. The unemployment rates of adult men (3.3%), adult women (3.1%), adolescents (11.3%), White (3.1%), African American (5.8%), and Hispanic (4.4%)which showed little to no change over the month.
Among the unemployed, the number of people temporarily unemployed dropped by 175,000 to 667,000 in July. The number of people who lost permanent jobs was little changed at 1.4 million.
The number of long-term unemployed (those out of work for 27 weeks or more) had a small change to 1.2 million and represented 19.9% of all unemployed.
The BLS states that total nonfarm payroll employment was 187,000 in July, less than the monthly average of 312,000 over the previous 12 months. In July, there were job gains in health care, social assistance, financial activities, and wholesale trade.
In July, health care added 63,000 jobscompared to the average monthly profit of 51,000 in the previous 12 months.
The social assistance added 24,000 jobs in Julyin line with the average monthly profit of 23,000 in the previous 12 months.
He employment in financial activities increased by 19,000 in July. The industry had added an average of 16,000 jobs per month in the second quarter of the year, after employment was essentially flat in the first quarter.
employment in the wholesale trade increased by 18,000after showing little change in recent months.
employment in the other services industry continued its upward trend in July (+20,000)compared to an average monthly profit of 15,000 over the previous 12 months.
He Construction employment continued its upward trend in July (+19,000)in line with the average monthly profit of 17,000 in the previous 12 months.
He employment in leisure and hospitality changed little (+17,000). The industry has shown little change in employment in recent months, tracking average monthly earnings of 67,000 in the first quarter of the year. Employment in leisure and hospitality is maintained
below its February 2020 level at 352,000, or 2.1%.
The BLS report states that in July, Median hourly earnings for all employees on private nonfarm payrolls increased 14 cents, or 0.4%, to $33.74. In the past 12 months, average hourly earnings have increased by 4.4%.
Keep reading:
US economy adds 209,000 jobs in June
BLS reports that the US added 339,000 jobs in May
· Majority of young adults in the US want paid time off and flexible hours for employment: Survey
