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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.


Labor force
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


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 %.


 Employement situation (Picture Autor: Flickr by Brad & Sabrina at http://flickr.com/photos/19078064@N00/184665954) 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.


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.





Employment Situation
( in millions or %)
July 2020

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June 2020

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May 2020

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April 2020

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March 2020

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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.
 
Labor force participation rate
is the labor force as a percent of the population.
 
Employment-population ratio
is the employed as a percent of the population.




Average weekly Salary by Industry ($) July 2020

prel.
June 2020

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May 2020

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April 2020

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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

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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







Source: Department of Labor
Picture Autor: (Flickr by Brad & Sabrina at http://flickr.com/photos/19078064@N00/184665954)




     
       
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