US / Employment increased and the unemployment rate edged down, as previous months gains

Total nonfarm payroll employment increased by 162,000 in July, and the unemployment rate edged down to 7.4 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in retail trade, food services and drinking places, financial activities, and wholesale trade.

Household Survey Data

Both the number of unemployed persons, at 11.5 million, and the unemployment rate, at 7.4 percent, edged down in July. Over the year, these measures were down by 1.2 million and 0.8 percentage point, respectively. (See table A-1.)

Among the major worker groups, the unemployment rates for adult women (6.5 percent) and blacks(12.6 percent) declined in July. The rates for adult men (7.0 percent), teenagers (23.7 percent), whites (6.6 percent), and Hispanics (9.4 percent) showed little or no change. The jobless rate for Asians was 5.7 percent (not seasonally adjusted), little changed from a year earlier.

Chosen excerpts by Job Market Monitor. Read the whole story at 

via Employment Situation Summary.

“Fewer jobs were added in the previous two months than earlier estimated. Americans worked fewer hours and their pay dipped. The figures suggest weak economic growth may be making businesses cautious about hiring” writes the Washington Post.

via US employers add 162K jobs as unemployment rate falls to 7.4 percent, lowest since Dec. 2008 – The Washington Post.