Total nonfarm payroll employment in the United States fell by 23,000 in July, according to a report by the Bureau of Labor Statistics on Friday. The figure came in sharply below expectations for an increase of around 80,000, while June's gain was revised down to 20,000 from 57,000.
Local government education lost 50,000 jobs, while retail trade declined by 19,000, and employment in financial activities fell by 14,000. The unemployment rate stood at 4.1%, with 6.9 million people unemployed, while the labor force participation rate was 61.4%.
Average hourly earnings rose by two cents, or 3.2%, to $37.64. The average workweek remained unchanged at 34.3 hours.
Powered by Commodity Insights