"Total nonfarm payroll employment rose by 157,000 in July, and the unemployment rate edged down to 3.9 percent," the U.S. Bureau of Labor Statistics announced on Friday.
Key takeaways from the official publication
- In July, the unemployment rate edged down by 0.1 percentage point to 3.9 percent, following an increase in June.
- The number of unemployed persons declined by 284,000 to 6.3 million in July.
- Both measures were down over the year, by 0.4 percentage point and 676,000, respectively.
- The labor force participation rate, at 62.9 percent in July, was unchanged over the month and over the year.
- The average workweek for all employees on private nonfarm payrolls decreased by 0.1 hour to 34.5 hours in July, following an increase of 0.1 hour in June.
- In July, average hourly earnings for all employees on private nonfarm payrolls rose by 7 cents to $27.05.
- Over the year, average hourly earnings have increased by 71 cents, or 2.7 percent.
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