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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
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
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