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July employment: 215,000 jobs created

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July employment: 215,000 jobs created

Job creation misses expectations; unemployment rate remains at 5.3%.

Total nonfarm payroll employment rose by 215,000 in July, and the unemployment rate remained flat at 5.3%, the U.S. Bureau of Labor Statistics reported today.

Job gains occurred in retail trade, health care, professional and technical services, and financial activities.

Consensus estimates had expected an increase of 225,000 new jobs.

The historically low employment participation rate increased 0.3 percentage point to 62.6%. Consensus estimates had expected an increase of 225,000 new jobs.

The number of unemployed persons remained flat at 8.3 million.

In July, average hourly earnings for all employees on private nonfarm payrolls rose 5 cents to $24.99. Over the year, average hourly earnings have risen by 2.1%.

The full report can be found here.

 

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