Consumer Comeback Blog

Economy Adds 163,000 New Jobs in July, but Rate Edges Up to 8.3%

July brought a sparkle of hope for job seekers as U.S. payrolls added 163,000 jobs, the Department of Labor
reported on Friday. Hiring exceeded economists’ expectations of only 95,000 new jobs. Since January, employment has grown by an average of 151,000 per month.

Even as hiring picked up the pace, the unemployment rate remained relatively unchanged at 8.3%, with 12.8 million Americans reportedly still looking for work. Both the unemployment rate and number of unemployed people have seen little movement since January. The household survey data showed that 195,000 people claimed to have lost their job in July.

The number of long-term unemployed was also essentially unaffected, as 40.7% of the unemployed or 5.2 million people have gone without a job for 27 weeks or more. The unemployment rate also reflects the 150,000 people who dropped out of the job market and the 852,000 “discouraged workers” who did not look for a job in the last month.

Breaking down the job-seeking public by ethnicity, age and sex, unemployment decreased for Hispanics (10.3%), black (14.1%) and white (7.4%) job-seekers saw little or no change. The same goes for adult men (7.7%), adult women (7.5%) and teenagers (23.8%).

Industries that were hiring new workers include:

  • Professional and business Services: +49,000 jobs
  • Computer systems design: +7,000 jobs
  • Temporary help services: +14,000
  • Food Services and drinking places: +29,000 jobs in July and 292,000 over the past 12 months
  • Manufacturing: +25,000 jobs
  • Fabricated metal products: +5,000 jobs
  • Healthcare: +12,000 jobs

Comments