ARCHITECT's Katharine Keane and the Hanley Wood Data Studio report the U.S. economy added 157,000 jobs in July, according to the monthly employment report released Friday by the U.S. Department of Labor's Bureau of Labor Statistics (BLS).
This seasonally adjusted figure is 36.7% lower than June's upwardly revised addition of 248,000 jobs, and marks an 17% decrease from last July, when 190,000 jobs were created. This number falls short of economists' expectations that 190,000 jobs would have been added last month.
In July, the unemployment rate decreased by 0.1 points back down to 3.9%t, after having bounced back up to 4% in June, and the number of unemployed persons declined by 284,000 to 6.3 million.
Average hourly earnings for employees on private non-farm payrolls increased by 7 cents in July to $27.05, a 71-cent, (or 2.7%) increase from a year prior.Read More