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Friday, August 5, 2016

July 2016 Unemployment Rate, Jobs

The July 2016 Jobs Report was released by the government's Bureau of Labor Statistics Friday morning, August 5.  A good, solid jobs report!    


The economy added 255,000 jobs, a large, strong number, which beat estimates of 170,000 to 180,000, and the unemployment rate was stable at 4.9%.

The number of unemployed people went down by 13,000 and 407,000 people joined the labor force.  Altogether, 420,000 more people started working in July, with 306,000 more people working full-time and 150,000 more people working part-time.

There are
217,000 more private sector jobs, and 38,000 more government jobs, the largest increase in the number of government jobs in over a year.

From the BLS report: 



Job gains occurred in professional and business services, health care, and financial activities. Employment in mining continued to trend down...
The change in total nonfarm payroll employment for May was revised from +11,000 to +24,000, and the change for June was revised from +287,000 to +292,000. With these revisions, employment gains in May and June combined were 18,000 more than previously reported. Over the past 3 months, job gains have averaged 190,000 per month. 

(For the record, 8 years ago, in July 2008, we lost 209,000 jobs as the country continued its slide into the worst recession in 80 years.)


More highlights and reports will continue to be posted here over the coming days and weeks.  Please check back!



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