US: Total nonfarm payroll employment increased by 209,000 in July
|"Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate was little changed at 4.3 percent," the U.S. Bureau of Labor Statistics announced on Friday.
Key highlights:
- Employment increased in food services and drinking places, professional and business services, and health care
- Both the unemployment rate, at 4.3 percent, and the number of unemployed persons, at 7.0 million, changed little in July
- Among the unemployed, the number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 1.8 million in July and accounted for 25.9 percent of the unemployed
- The labor force participation rate, at 62.9 percent, changed little in July and has shown little movement on net over the past year
- The employment-population ratio (60.2 percent) was also little changed in July but is up by 0.4 percentage point over the year
- The average workweek for all employees on private nonfarm payrolls was unchanged at 34.5 hours in July
- In July, average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents to $26.36
- Over the year, average hourly earnings have risen by 65 cents, or 2.5 percent
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