In the News

US – July – Thx to the shrinking labor force: Employment rose by 163 000, not enough for the unemployment rate to fall (up @ 8.3%)

Total nonfarm payroll employment rose by 163,000 in July, and the unemployment rate was essentially unchanged at 8.3 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, food services and drinking places, and manufacturing.

Source: bls.gov

via Employment Situation Summary.

-*-

The drop in participation is larger for men than women and is an observable trend since the beginning of the recession. Thx to the shrinking labor force, otherwise, the unemployment rate would be 11,8% as calculated by Job Market Monitor.

Thx for the Shrinking labor force

(000’s)

July Working Age population
243,3
Potential Labor Force (*)
161,2
Employed (official data)
142,2
Adjusted Nbre of Unemployed
19,0
Adjusted Unemployment Rate (%)
11,8

*Calculated using maximum participation rates for both sexes before entrering the Great Recession

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