#209000

U.S. Added 209,000 Jobs in July, Beating Forecasts

Job creation increased in July with 209,000 new positions created, while the unemployment rate held steady at 4.3 percent, according to Labor Department data released Friday. Economists surveyed by Reuters expected nonfarm payrolls to grow by 183,000 jobs last month after they soared to 222,000 in June. <div readability="6.5... NBC News Business

US economy creates 209,000 jobs in July

The US economy saw strong jobs growth in July, helped by a wave of hiring in the hospitality industry. The Bureau of Labor Statistics reported that 209,000 jobs were created in July which was more than economists had been expecting. The unemployment rate fell to 4.3%, the lowest level since 2001. Employment in food services and drinking plac… BBC News – Business

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US adds 209,000 jobs in July as unemployment rate rises to 6.2%

Girls fill out job applications at a career fair in Brooklyn, New York. Photograph: Spencer Platt/Getty Photos

The US added yet another 209,000 new jobs in July, the sixth straight month of 200,000 plus jobs development, as the unemployment rate inched up to six.two%.

The figure was slightly weaker than expected but nevertheless marks the initial time because 1997 that the US has added more than 200,000 jobs a month for six months in a row. The US has now added an typical of 209,000 new jobs a month over the last 12 months. July’s figures have been boosted by professional and company services, manufacturing, retail trade and building.

The Bureau of Labor Statistics also enhanced its total nonfarm payroll employment figures for May and June. Could was revised up from 224,000 to 229,000 and June from 288,000 to 298,000 – a total of 15,000 much more jobs than previously reported.

The report follows an upbeat report from the Commerce Division this week which showed a overall health rebound in US gross domestic solution – the broadest measure of the economy – soon after a winter which triggered the recovery to officially go into reverse.

When once more the jobs report highlighted critical problems in the labour market that have been left over from the recession. The number of lengthy-term unemployed (these jobless for 27 weeks or much more) was primarily unchanged at three.2 million in July.

The labour force participation price, which measures the percentage of the population in the workforce, remained close to a 30-year low at 62.9% and has been essentially unchanged given that April. The price indicates numerous individuals have given up searching for work.

The quantity of people defined as “employed part time for financial reasons” stayed at 7.5 million. These quantity consists of men and women functioning element-time simply because their hours had been reduce back or they have been unable to locate a complete-time job.

Unemployment for minorities and young people remain higher. The unemployment rate for African Americans elevated marginally to 11.4% in July. Teen unemployment stayed flat but at a startling 20%.