Total nonfarm payroll employment increased by 215,000 in July, and the unemployment rate was unchanged at 5.3 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in retail trade, health care, professional and technical services, as well as financial activities, according to the latest news.
Labor Secretary Thomas Perez says it’s good news, marking the 65th straight month of private-sector job growth, to the tune of 13 million jobs overall.
“…On average, private businesses have been creating roughly 6,500 new jobs every single day since February 2010,” he said in a press release. “This is the second year in a row that we’re average 200,000 new total non-farm jobs per month through July … The recovery is broad-based, with employment gains happening throughout the economy.”
In July, both the unemployment rate (5.3 percent) and the number of unemployed people (8.3 million) were unchanged. During the year, the unemployment rate and the number of unemployed persons were down by 0.9 percentage point and 1.4 million, respectively.
Among the major worker groups, the unemployment rate for teenagers declined to 16.2 percent in July. The rates for adult men (4.8 percent), adult women (4.9 percent), whites (4.6 percent), blacks (9.1 percent), Asians (4.0 percent), and Hispanics (6.8 percent) showed little or no change.
“African-American unemployment, while still far too high at 9.1 percent, has seen a steady decline in recent years (a 5 percentage point drop from three years ago), ” Perez said.
Among the unemployed, the number of new entrants decreased by 107,000 in July. New entrants are unemployed persons who never previously worked. In July, the number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 2.2 million. These individuals accounted for 26.9 percent of the unemployed. During the past 12 months, the number of long-term unemployed is down by 986,000.
The civilian labor force participation rate was unchanged at 62.6 percent in July, after declining by 0.3 percentage point in June. The employment-population ratio, at 59.3 percent, was also unchanged in July and has shown little movement thus far this year.
“Labor force participation rate in July was 62.6 percent, remaining stable following a significant drop during the recession,” Perez said. “But we can do more to boost that number, for example by passing a national paid leave law – just as every other advanced economy on earth has done – to help bring more women into the workforce. Also keep in mind: labor force participation is held down in part by demographic shifts, namely an aging population and the retirement of the baby boomers. Comparing today’s LFPR to that of 40 years ago is apples-to-oranges.”