Both the number of unemployed persons (7.1 million) and the unemployment rate (4.6 percent) were about unchanged in July. The jobless rate has ranged from 4.4 to 4.6 percent since September 2006. In July, the unemployment rates for adult men (4.2 percent), teenagers (15.2 percent), whites (4.2 percent), blacks (8.0 percent), and Hispanics (5.9 percent) were little changed. The unemployment rate for adult women edged up to 4.1 percent. The unemployment rate
for Asians was 3.0 percent, not seasonally adjusted.
The number of persons unemployed 27 weeks and over rose by 188,000 to 1.3 million in July. This group accounted for 18.4 percent of total unemployment, up from 16.2 percent in June.
The number of persons unemployed due to job loss rose by 253,000 in July. This group accounted for 50.9 percent of the unemployed, up from 48.7 percent a month earlier.
Total Employment and the Labor Force (Household Survey Data)
In July, total employment (146.1 million) and the civilian labor force (153.2 million) were little changed. The employment-population ratio (63.0 percent) was about unchanged, and the labor force participation rate held at 66.1 percent.
Persons Not in the Labor Force (Household Survey Data)
Nearly 1.4 million persons (not seasonally adjusted) were marginally attached to the labor force in July, down by 146,000 from a year earlier. These individuals wanted and were available to work and had looked for a job sometime during the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally attached, there were 367,000 discouraged workers in July, about the same number as a year earlier. Discouraged workers were not currently looking for work specifically because they believed no jobs were available for them. The remaining 1.0 million persons marginally attached to the labor force in July had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance and family responsibilities.
Industry Payroll Employment (Establishment Survey Data)
Total payroll employment continued to trend up in July (+92,000), reaching 138.1 million,seasonally adjusted. Thus far in 2007,employment has increased by an average of 136,000 per month, compared with an average monthly gain of 189,000 in 2006. Over the month, employment rose in several service-providing industries and changed little in the goods-producing industries.
Health care employment grew by 36,000 in July, with gains of 9,000 jobs each in offices of physicians and in hospitals and 8,000 in home health care. Over the year, health care employment has expanded by 377,000. Employment in social assistance continued to trend up in July; the industry has added 99,000 jobs over the past 12 months.
In financial activities, employment rose by 27,000 in July. Credit intermediation and related activities added 11,000 jobs over the month, offsetting a decline of a similar magnitude in June. Over the month, employment continued to grow in insurance carriers and related activities (+6,000) and in securities, commodity contracts, and investments (+4,000). Over the year, these industries have added 42,000 and 32,000 jobs, respectively.
Employment in food services and drinking places continued to trend up in July (+22,000). Job growth in this industry has averaged 29,000 per month in 2007, about the same as the average monthly increase in 2006. Over the month, wholesale trade employment continued to
increase, while retail trade employment was unchanged.
Within professional and business services, computer systems design and related services continued to grow, adding 15,000 jobs over the month. Business support services employment also rose in July (+9,000). Temporary help services employment continued to trend down (-7,000); this industry has lost 52,000 jobs so far in 2007.
In the goods-producing sector, employment changed little in both manufacturing and construction in July. Manufacturing has lost 175,000 jobs over the past 12 months. Since its most recent peak in September, employment in construction has fallen by 75,000.
Weekly Hours (Establishment Survey Data)
In July, the average workweek for production and nonsupervisory workers on private nonfarm payrolls decreased by 0.1 hour to 33.8 hours, seasonally adjusted. Average weekly hours and overtime hours for factory workers were unchanged over the month.
The index of aggregate weekly hours of production and nonsupervisory workers on private nonfarm payrolls fell by 0.1 percent in July to 107.7 (2002=100). The manufacturing index was unchanged.
Hourly and Weekly Earnings (Establishment Survey Data)
Average hourly earnings of production and nonsupervisory workers on private nonfarm payrolls increased by 6 cents, or 0.3 percent, in July to $17.45, seasonally adjusted. This increase followed gains of 7 cents in both May and June. Average weekly earnings were little changed over the month at $589.81. Over the year, average hourly earnings rose by 3.9 percent while weekly earnings rose by 3.6 percent.
