http://www.washingtonexaminer.com/economy-adds-215000-jobs-in-july-unemployment-rate-unchanged-at-5.3-percent/article/2569787Economy adds 215,000 jobs in July, unemployment rate unchanged at 5.3 percent
By Sean Higgins • 8/7/15 8:50 AM
The national unemployment remained unchanged at 5.3 percent, the Labor Department reported Friday. A total of 8.3 million people are unemployed.
The U.S. economy added 215,000 non-farm jobs in July, matching analysts' expectations. Overall, unemployment is down by almost a full point, 0.9 percent, from the start of 2015. The economy has added 1.4 million jobs to date this year.
"In July, job gains occurred in retail trade, health care, professional and technical services, and financial activities," the department reported. Major industries such as construction, wholesale trade, information services, and public sector employment, showed little improvement.
The unemployment rate, while historically low, obscured some of the more somber news in the report, such the continued high rate of underemployment. The Bureau of Labor Statistics noted that the number of part-time workers would would prefer full-time employment was 6.3 million. There are another 1.9 million person who were "marginally attached" — people who wanted to work but had not found jobs and were currently not actively looking.
"The civilian labor force participation rate was unchanged at 62.6 percent in July, after declining by 0.3 percentage point in June. The employment-population ratio, at 59.3 percent, was also unchanged in July and has shown little movement thus far this year," the department noted.
In July, average hourly earnings for workers rose by 5 cents to $24.99. Average hourly earnings have risen by 2.1 percent overall in 2015.
First-time claims for unemployment benefits rose slightly to 270,000 for the week ending Aug. 1, the Department of Labor reported Thursday.
The number of initial claims, which is adjusted to smooth out predictable seasonal fluctuations, was slightly above the previous week's low level of 267,000, and just below investors' expectations.
Despite the slight uptick, jobless claims remain near decades-low levels. The four-week moving average of claims dropped by 6,500 to 268,250, a level not seen since 2000.
