Economy gains 1.763,000 jobs, unemployment rate 10.2 %
U.S. Employment Report
The nonfarm payrolls grew 1.763,000 in July, as faster hiring puts more money in the hands of consumers, what usually leads to an increase in spending,
The economy gained a net 1.763,000 jobs in July and the nation's jobless rate declined to 10.2 %, from 11.1 %, on the seasonally adjusted basis, reported by the U.S. Labor Department.
As the year goes on, companies have been hiring at a faster clip as Americans increase spending and consumer confidence rises, economists have seen a steady improvement in the jobs market and recruiting activity.
Current report confirms positive trends in the nonfarm payrolls. Total number of employed persons in the U.S. rose by 0.95 % to 143,53 millions, the biggest increases occurred in leisure and hospitality sectors up by 592,000 payrolls, the information sector fared poorly by trimming -15,000 jobs.
At July 2020 Total number of unemployed persons
deacreased to 16.34 millions, a deacrease of 1,412.00
thousands or -7.95 % from June 2020, Unemployment rate
decreased to 10.20 %, from 11.10% in previous month.
In July 1,763,000 nonfarm payrolls were created.
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Labor force
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Average workweek remained unchanged in July on the seasonally adjusted basis, the biggest increases occurred in transportation and warehousing to 38.30 hours, the hours worked in durable goods manufacturers fell the most to 79.20 hours, reported by the U.S. Labor Department.
With slight increase in hourly earnings and unchanged in hours worked, average weekly earnings increased in the private sector to $1,013.96 from $1,013.27 in the previous month.
The number of employed persons
increased to 143.53 millions by 1,350.00 thousands or 0.95 % in July 2020.
Total Labor force
deacreased to 159.87 millions.
Average weekly earnings where $1,013.96 dollars, in July 2020
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Average Weekly Hours of Production
The official unemployment rate does not tell the whole story since it does not count discouraged workers who recently stopped looking for a job. The number of unemployed people dropped to 16.34 million, a decrease by -1,412,000 from 17.75 million in June by -7.95 % on the seasonally adjusted basis.
What's more, the drop in the unemployment rate in July stemmed mainly from a decline in the labor force as discouraged job seekers stopped looking for work, driving the employment participation rate down -0.10 % to 61.40 %.
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The Labor Department announced hourly wages edge up by 0.07 % compare to the decline in July, in July on the seasonally adjusted basis, hourly earnings in the information sector rose the most to $44.12, the biggest decline was in financial sector to $37.80.
Surging hourly wages, could lead to increase in infation, as companies try to pass on their input costs.
Construction Industry
remained unchanged from June 2020; Manufacturing Industry
rose to 39.70 hours per week, Durable goods Industry
fell to 79.20 hours per week, Nondurable goods Industry
advanced to 39.20 hours per week.
Average Weekly Hours of Production for private serviceproviding
industry
fell to 33.50 hours per week, from June 2020; Trade, transportation & utilities Industry
fell to 34.00 hours per week, from June 2020 .
Financial activities Industry Average Weekly Hours of Production
fell to 37.60 hours per week, from June 2020.
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Information Industry Average Weekly Hours of Production
fell to 36.30 hours per week, from June 2020; Professional & business services Industry
remained unchanged from June 2020;
Education & health services Industry
advanced to 33.40 hours per week, from June 2020; Leisure & hospitality Industry
fell to 25.30 hours per week, from June 2020; Other services Industry
fell to 32.20 hours per week, from June 2020.
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Employment
Situation
( in millions or %) |
July 2020
prel. |
June 2020
prel. |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
| Unemployment rate |
|
10.2 % |
11.1 % |
13.3 % |
14.7 % |
4.4 % |
3.5 % |
| Number of unemployed persons |
|
16.338 |
17.750 |
20.985 |
23.078 |
7.140 |
5.787 |
| Number of Employed persons |
|
143.532 |
142.182 |
137.242 |
133.403 |
155.772 |
158.759 |
| Employment/population ratio |
|
55.1 % |
54.6 % |
52.8 % |
51.3 % |
60 % |
61.1 % |
| Civilian labor force |
|
159.870 |
159.932 |
158.227 |
156.481 |
162.913 |
164.546 |
| Participation rate |
|
61.4 % |
61.5 % |
60.8 % |
60.2 % |
62.7 % |
63.4 % |
| Civilian noninstitutional
population |
|
260.373 |
260.204 |
260.047 |
259.896 |
259.758 |
259.628 |
| Persons who currently want a job outside CLF |
|
7.732 |
8.195 |
8.962 |
9.916 |
5.509 |
4.962 |
EMPLOYMENT BY SELECTED INDUSTRY
(Over-the-month change, in thousands) |
|
July 2020
prel. |
June 2020
prel. |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
| Nonfarm Payrolls |
|
+1,763.0 |
+4,800.0 |
+2,509.0 |
-20,687.0 |
-701.0 |
+273.0 |
| Total Private Payrolls |
|
+1,462.0 |
+4,767.0 |
+3,094.0 |
-19,724.0 |
-713.0 |
+228.0 |
| Goods-producing Payrolls |
|
+39.0 |
+504.0 |
+669.0 |
-2,373.0 |
-54.0 |
+61.0 |
| Mining & logging |
|
-7.0 |
-10.0 |
-20.0 |
-54.0 |
-7.0 |
+4.0 |
| Construction |
|
+20.0 |
+158.0 |
+464.0 |
-995.0 |
-29.0 |
+42.0 |
| Manufacturing Payrolls |
|
+2.8 |
+2.4 |
+2.4 |
+2.1 |
+3.0 |
+3.2 |
| Durable goods |
|
+15.0 |
+290.0 |
+119.0 |
-907.0 |
-7.0 |
+11.0 |
| Motor vehicles and parts |
|
+39.3 |
+195.8 |
+27.7 |
-359.2 |
-2.2 |
+6.8 |
| Nondurable goods |
|
+11.0 |
+66.0 |
+106.0 |
-417.0 |
-11.0 |
+4.0 |
| Private service-providing Payrolls |
|
+1,423.0 |
+4,263.0 |
+2,425.0 |
-17,351.0 |
-659.0 |
+167.0 |
| Wholesale trade |
|
-5.3 |
+67.6 |
+21.4 |
-382.5 |
+0.9 |
-2.6 |
| Retail trade |
|
+258.3 |
+739.8 |
+367.8 |
-2,285.8 |
-46.2 |
-7.0 |
| Transportation and warehousing |
|
+37.9 |
+98.7 |
-19.0 |
-553.3 |
-4.9 |
-4.0 |
| Information |
|
-15.0 |
+9.0 |
-38.0 |
-272.0 |
+2.0 |
+4.0 |
| Financial activities |
|
+21.0 |
+32.0 |
+33.0 |
-264.0 |
-1.0 |
+26.0 |
| Professional and business services |
|
+170.0 |
+306.0 |
+127.0 |
-2,189.0 |
-52.0 |
+41.0 |
| Temporary help services |
|
+143.7 |
+148.9 |
+39.1 |
-840.5 |
-49.5 |
-3.3 |
| Education and health services |
|
+215.0 |
+568.0 |
+424.0 |
-2,590.0 |
-76.0 |
+54.0 |
| Health care and social assistance |
|
+191.4 |
+474.9 |
+390.7 |
-2,128.5 |
-61.2 |
+56.5 |
| Leisure and hospitality |
|
+592.0 |
+2,088.0 |
+1,239.0 |
-7,539.0 |
-459.0 |
+51.0 |
| Other services |
|
- |
- |
- |
- |
- |
- |
| Government Payrolls |
|
- |
- |
- |
- |
- |
- |
Civilian labor force
is the sum of employed and unemployed persons. |
|
|
Unemployment Rate
is the number unemployed as a percent of the labor force. |
|
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Labor force participation rate
is the
labor force as a percent of the population. |
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Employment-population ratio
is the employed as a percent of the population. |
| Average weekly Salary by Industry ($) |
July 2020
prel. |
June 2020
prel. |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
| Total private |
|
1,013.96 |
1,013.27 |
1,032.33 |
1,027.37 |
978.80 |
981.09 |
| Goods producing |
|
1,187.77 |
1,171.69 |
1,173.51 |
1,155.17 |
1,188.16 |
1,193.42 |
| Natural resources &
mining |
|
1,539.13 |
1,518.53 |
1,509.30 |
1,511.45 |
1,581.58 |
1,574.11 |
| Construction |
|
1,234.30 |
1,230.02 |
1,223.79 |
1,188.92 |
1,224.22 |
1,232.06 |
| Manufacturing |
|
1,143.76 |
1,119.94 |
1,126.54 |
1,115.57 |
1,145.34 |
1,147.74 |
| Overtime hours |
|
- |
- |
- |
- |
- |
- |
| Durable goods |
|
2,393.42 |
7,028.85 |
2,027.01 |
-9,886.54 |
1,143.45 |
1,422.24 |
| Nondurable goods |
|
1,036.06 |
1,026.48 |
1,032.86 |
1,024.91 |
1,035.60 |
1,028.80 |
| Private serviceproviding |
|
978.87 |
982.46 |
1,002.51 |
1,002.00 |
936.87 |
941.72 |
| Trade, transportation
& utilities |
|
861.56 |
863.67 |
872.94 |
867.65 |
846.87 |
844.81 |
| Wholesale trade |
|
1,246.46 |
1,234.24 |
1,239.56 |
1,227.51 |
1,231.43 |
1,234.23 |
| Retail trade |
|
640.20 |
648.02 |
653.54 |
643.55 |
626.03 |
620.00 |
| Transportation & warehousing |
|
972.82 |
959.36 |
967.76 |
955.33 |
964.22 |
962.48 |
| Utilities |
|
1,845.35 |
1,833.71 |
1,812.49 |
1,829.14 |
1,804.13 |
1,798.57 |
| |
|
|
|
|
|
|
| Information |
|
1,601.56 |
1,577.90 |
1,590.64 |
1,594.32 |
1,567.38 |
1,557.32 |
| Financial activities |
|
1,421.28 |
1,436.37 |
1,429.22 |
1,407.34 |
1,380.30 |
1,386.69 |
| Professional & business
services |
|
1,274.13 |
1,275.95 |
1,290.38 |
1,284.50 |
1,244.01 |
1,247.09 |
| Education & health
services |
|
950.23 |
940.37 |
935.35 |
922.25 |
917.91 |
924.15 |
| Leisure & hospitality |
|
426.56 |
433.25 |
446.92 |
434.39 |
410.65 |
435.25 |
| Other services |
|
855.88 |
859.50 |
881.27 |
887.28 |
809.24 |
817.60 |
| Average weekly hours of production by Industry |
July 2020
prel. |
June 2020
prel. |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
| Total private |
|
34.50 |
34.50 |
34.70 |
34.20 |
34.20 |
34.40 |
| Goods producing |
|
39.50 |
39.20 |
39.00 |
38.20 |
40.10 |
40.40 |
| Natural resources &
mining |
|
43.80 |
43.30 |
43.00 |
43.00 |
45.50 |
45.60 |
| Construction |
|
38.90 |
38.90 |
38.90 |
37.90 |
39.10 |
39.30 |
| Manufacturing |
|
39.70 |
39.20 |
38.90 |
38.10 |
40.40 |
40.70 |
| Overtime hours |
|
- |
- |
- |
- |
- |
- |
| Durable goods |
|
79.20 |
235.00 |
66.70 |
-321.20 |
38.50 |
48.00 |
| Nondurable goods |
|
39.20 |
39.00 |
38.80 |
38.20 |
39.80 |
40.00 |
| Private serviceproviding |
|
33.50 |
33.60 |
33.80 |
33.40 |
33.00 |
33.30 |
| Trade, transportation
& utilities |
|
34.00 |
34.30 |
34.30 |
33.80 |
34.30 |
34.30 |
| Wholesale trade |
|
38.40 |
38.20 |
38.00 |
37.70 |
38.70 |
38.80 |
| Retail trade |
|
30.50 |
31.20 |
31.30 |
30.50 |
30.90 |
30.80 |
| Transportation & warehousing |
|
38.30 |
37.80 |
37.70 |
37.10 |
38.40 |
38.30 |
| Utilities |
|
42.50 |
42.30 |
42.20 |
42.40 |
42.50 |
42.60 |
| |
|
|
|
|
|
|
| Information |
|
36.30 |
36.50 |
36.60 |
36.50 |
36.40 |
36.20 |
| Financial activities |
|
37.60 |
37.70 |
37.80 |
37.70 |
37.60 |
37.60 |
| Professional & business
services |
|
36.30 |
36.30 |
36.40 |
35.90 |
36.10 |
36.20 |
| Education & health
services |
|
33.40 |
33.10 |
32.90 |
32.60 |
32.90 |
33.10 |
| Leisure & hospitality |
|
25.30 |
25.50 |
25.70 |
24.20 |
24.40 |
25.80 |
| Other services |
|
32.20 |
32.30 |
32.70 |
32.30 |
31.50 |
31.90 |
| Average hourly earnings ($) |
July 2020
prel. |
June 2020
prel. |
May 2020
prel. |
April 2020
prel. |
March 2020
prel. |
Feb. 2020
prel. |
| Total private |
|
29.39 |
29.37 |
29.75 |
30.04 |
28.62 |
28.52 |
| Goods producing |
|
30.07 |
29.89 |
30.09 |
30.24 |
29.63 |
29.54 |
| Natural resources &
mining |
|
35.14 |
35.07 |
35.10 |
35.15 |
34.76 |
34.52 |
| Construction |
|
31.73 |
31.62 |
31.46 |
31.37 |
31.31 |
31.35 |
| Manufacturing |
|
28.81 |
28.57 |
28.96 |
29.28 |
28.35 |
28.20 |
| Overtime hours |
|
- |
- |
- |
- |
- |
- |
| Durable goods |
|
30.22 |
29.91 |
30.39 |
30.78 |
29.70 |
29.63 |
| Nondurable goods |
|
26.43 |
26.32 |
26.62 |
26.83 |
26.02 |
25.72 |
| Private serviceproviding |
|
29.22 |
29.24 |
29.66 |
30.00 |
28.39 |
28.28 |
| Trade, transportation
& utilities |
|
25.34 |
25.18 |
25.45 |
25.67 |
24.69 |
24.63 |
| Wholesale trade |
|
32.46 |
32.31 |
32.62 |
32.56 |
31.82 |
31.81 |
| Retail trade |
|
20.99 |
20.77 |
20.88 |
21.10 |
20.26 |
20.13 |
| Transportation & warehousing |
|
25.40 |
25.38 |
25.67 |
25.75 |
25.11 |
25.13 |
| Utilities |
|
43.42 |
43.35 |
42.95 |
43.14 |
42.45 |
42.22 |
| |
|
|
|
|
|
|
| Information |
|
44.12 |
43.23 |
43.46 |
43.68 |
43.06 |
43.02 |
| Financial activities |
|
37.80 |
38.10 |
37.81 |
37.33 |
36.71 |
36.88 |
| Professional & business
services |
|
35.10 |
35.15 |
35.45 |
35.78 |
34.46 |
34.45 |
| Education & health
services |
|
28.45 |
28.41 |
28.43 |
28.29 |
27.90 |
27.92 |
| Leisure & hospitality |
|
16.86 |
16.99 |
17.39 |
17.95 |
16.83 |
16.87 |
| Other services |
|
26.58 |
26.61 |
26.95 |
27.47 |
25.69 |
25.63 |
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