Total nonfarm payroll employment in the U.S. increased by 73,000 jobs in July (a pace that reflects a notably slow labor market). The unemployment rate remained mostly unchanged at 4.2%.
The labor force participation changed very little at 62.2% for the month of July, but has declined by 0.5% over the year . Additionally, average hourly earnings rose by 0.3%, contributing to a 3.9% increase over the past 12 months.
Note: May and June job gains were revised down by a total of 258,000 (a much larger-than-normal adjustment), signaling the labor market is not quite as strong as earlier data suggested.
Learn more about the recent BLS employment update below.
For the U.S. Bureau of Labor Statistics July jobs report, click here.