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Friday, August 7, 2015

BLS: 215,000 Jobs Added in July

Total nonfarm payroll employment rose by 215,000 in July, down from last month’s upwardly revised 231,000. The unemployment rate remains unchanged at 5.3 percent. The Federal Reserve has placed its full employment estimate between 5.0 and 5.2 percent.


Retail trade, healthcare, professional and technical services, and financial activities led the gains in employment. Retail trade and financial activities posted numbers that were consistent with their June gains (35,900 and 17,000), while healthcare and social services added 30,100 jobs, down from over 55,000 in June. Manufacturing posted healthier job gains at 15,000 after a sluggish June. Employment in mining and logging contracted by 4,000.


The civilian labor force participation rate was unchanged at 62.6 percent – the lowest participation rate since April 2014.

Average hourly earnings rose 5 cents to $24.99 – a 2.1 percent increase year over year.

The number of long-term unemployed, those jobless for 27 weeks or more, was little changed at 2.2 million. This group accounts for 26.9 percent of the unemployed. The number of discouraged workers, those not looking for work because they believe no jobs are available, was 668,000 – little changed from a year ago.

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