The economy added 164,000 jobs in July, and the unemployment rate was unchanged at 3.7…
The economy added 164,000 jobs in July, and the unemployment rate was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics Reports.
This is lower than the 200,000+ monthly gains seen earlier in the year, but is still a healthy gain.
Of note, there are now a record number of Americans employed: 157,288,000. The labor force participation rate is up to 63%.
Notable job gains occurred in professional and technical services, health care, social assistance, and financial activities during July.
In July, the number of persons unemployed less than 5 weeks increased by 240,000 to 2.2 million, while the number of long-term unemployed (those jobless for 27 weeks or more) declined by 248,000 to 1.2 million.
The long-term unemployed accounted for 19.2 percent of the unemployed.
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) declined by 363,000 in July to 4.0 million.