Unemployment Rates Fall Slightly Across Nation
Employment across the nation was up last month, the U.S. Bureau of Labor Statistics reported Friday.
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Total nonfarm payroll employment increased by 162,000 in July, and the unemployment rate edged down to 7.4 percent. Employment rose in retail trade, food services, financial activities and wholesale trade.
The number of unemployed dropped by 1.2 million, or 0.8 percent, since this time last year, leaving 11.5 million people unemployed.
Specifically, unemployment for women and African Americans declined in July. All other groups, including adult men, teenagers, whites, Hispanics and Asians showed little or no change since last July.
July also showed little change since the previous month for the long-term unemployed, or those who have been without work for 27 weeks or more. These individuals accounted for 37 percent of the unemployed.The number of long-term unemployed has declined by 921,000 over the past year.
The number of people employed part time for economic reasons, referred to as involuntary part-time workers, was essentially unchanged at 8.2 million in July. These individuals are working part time because their hours have been cut back or because they were unable to find a full-time job.
In addition, 2.4 million persons were marginally attached to the labor force last month, similar to July 2012. These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed, because they had not searched for work in the four weeks preceding the survey. These numbers included discouraged workers, who believe no jobs are available for them, and those who are not working because of school or family responsibilities.
For retail trade, food services, financial activities and wholesale trade, employment growth averaged 189,000 per month over the last 12 months.
In July, retail trade added 47,000 jobs, food services added 38,000 jobs, business services added more than 36,000 jobs, financial activities added 15,000 jobs and wholesale trade added more than 14,000 jobs.
Other industries such as manufacturing, health care, construction, transportation and government remained unchanged last month.
The average workweek and overtime for all employees on private nonfarm payrolls fell between 0.1 and 0.2 hours in July.
Payrolls also went down by 2 cents to $23.98, after a 10-cent spike in June. Over the year, average hourly earnings have risen by 44 cents, or 1.9 percent. In July, average hourly earnings of private-sector production and nonsupervisory employees were unchanged at $20.14.
For the full report from the Bureau of Labor Statistics, click here.
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