July 2021 Jobs Report
Unemployment Rate: 5.4 percent
Jobs Created: 943,000
Employment and Unemployment
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The Department of Labor reported the unemployment rate decreased 0.5 percentage point to 5.4 in July.
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Nonfarm jobs increased by 943,000 in July, including sizeable job gains in leisure and hospitality.
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In May and June, job gains were higher on net than first reported. The department revised the change in nonfarm jobs for those months up by a combined 119,000 jobs.
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The U-6 unemployment rate, a broader measure that includes part-time and discouraged workers, decreased 0.6 percentage point to 9.2% in July.
Labor Force Participation
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The labor force participation rate, the share of people employed or looking for work, ticked up 0.1 percentage point to 61.7%. It remains 1.6 percentage points below the level in February 2020.
Wages
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In July, average hourly earnings for all employees in private nonfarm jobs increased by $0.11 to $30.54.
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